Thursday
March 30, 2017

Post a New Question

Posted by on .

please check my answer thanks :)

I messed up somewhere.:(

Using the FIFO method of inventory pricing, what is the dollaor value of ending inventory if there were 17,000 units on hand on Dec 31 Must show all of work

Jan 1 5,ooo @ $0.89 = 4450
Feb 15 10,000 @$ 0.69 = 6900
Apr 15 2,000 @$1.09 = 2180
July 15 4,000 @$0.99 = 3960
Oct 15 1,000 @$1.19 = 1190
Dec 15 2,000 @ $1.09 = 2180
+------------
20860

I keep messing up could someone please tell me what I am doing wrong thanks in advance :)

  • math please help - ,

    You only have 17,000 left in the store. The early months are gone - sold.

    So start at Dec and work back until you get to 17,000

    Dec 2,000 @ 1.09 = 2180
    Oct 1,000 @ 1.19 = 1190
    July 4,000@ 0.99 = 3960
    April 2000@ 1.09 = 2180 that is 9000 units
    Feb- 8,000@ 0.69 = 5520 that is 17000 units, the end

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question