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April 24, 2014

Homework Help: math please help

Posted by keleb on Tuesday, January 8, 2008 at 9:44am.

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 :)

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