Posted by Anna on .
Mahalyk's Water Fun Shoppe specializes in jet skis. Mahalyk's inventory records showed the following for the past year.
Purchase Date Number of Jet Skis Cost Per Jet Ski
February 10 30 $4,000
May 12 80 $3,000
June 15 20 $3,500
July 20 15 $2,500
Use the FIFO method to determine Mahalyk's value of ending inventory at the end of July if they had 70.5 jet skis left in inventory.
I chose "C" is this correct? Thanks in advance!