The following inventory transactions apply to Duncan Steel Company for Year 2: 

The beginning inventory consisted of 180 units at $10 per unit. All transactions are cash transactions.
Required
a. Record these transactions in a financial statements model, assuming Green uses the FIFO costflow assumption and keeps perpetual records.
b. Compute the ending balance in the Inventory account.

Transcribed Image Text:

Jan. 1 Purchased 200 units @ $12 150 units @ $20 300 units @ $15 Apг. 1 Aug. 1 Dec. 1 Sold Purchased Sold 450 units @ $25