A sneaker outlet has made the following wholesale purchases of new running shoes: 12 pairs at $46

Accounting Dec 08, 2021

A sneaker outlet has made the following wholesale purchases of new running shoes: 12 pairs at $46.30, 25 pairs at $41.30, and 20 pairs at $51.30. An inventory taken last week indicates that 36 pairs are still in stock. Calculate the cost of this inventory by FIFO. Cost of ending inventory