Given the following inventory data about a firm:
§ Beginning inventory 20 units at $50/unit
§ Purchased 10 units at $45/unit
§ Purchased 35 units at $55/unit
§ Purchased 20 units at $65/unit
§ Sold 60 units at $80/unit
What is the inventory value at the end of the period using FIFO?
The correct answer was A.
Ending inventory equals 20 + 10 + 35 + 20 ＋60 = 25 of last units purchased in inventory.
(20 units)($65/unit) + (5 units)($55/unit) =
$1,300 + $275 = $1,575 | 
发表于 2006-4-27 16:37
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