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April 26, 2015

Homework Help: math

Posted by Lucy on Sunday, May 18, 2008 at 7:28pm.

what is the dollar value of ending inventory if there were 17,000 units on hand on December 31?

January 1 beginning inventory 5,000 units @$0.89
February 15 purchase 10,000 units @ $0.69
April 15 purchase 2,000 units @ $1.09
July 15 purchase 4,000 units @ $0.99
October 15 purchase 1,000 units @ $1.19
December15 purchase 2,000 units @ $1.09


My book does not explain very much on how to do the FIFO Method. I would really appreciate any thanks again

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