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October 22, 2014

Homework Help: very hard math question please help

Posted by Anonymous on Friday, November 9, 2007 at 9:57am.

The Candle Shop -Annual Inventory of candles.
_______-________________________________
Jan 1 Beg Inventory 5,000 units @$0.89
----------------------------------------
Feb 15 Purchase 10,000 units @ $0.69
________________________________________
April purchase 2,000 units @ $1.09
________________________________________
July 15 purchase 4,000 units @ $ 0.99
________________________________________Oct 15 purchase 1,000 units @$1.19
________________________________________Dec 15 purchase 2,000 units @$1.09
_______________________________________
________________________________________
Using the FIFO method of inventory pricing, what is the dollar value of ending inventory if there were 17,000 units on hand on Dec 31?
Someone please help this is very tough question I have know idea if you could show all your work and explian it to me thanks for your time

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