Inventory data for Mason Concrete Products for the year ended December 31, 2021, are as follows:

Beginning inventory 50 units at $150 each

March 31 purchase 50 units at $155 each

Sales from January 1 to June 30 60 units

July 1 purchase 55 units at $160 each

Sales from July 1 to December 31 70 units

September 30 purchase 60 units at $170 each

Compute the perpetual ending inventory balance on December 31, 2021, using FIFO.

Answer rating: 100% (QA)

Answer To compute the perpetual ending inventory balance on December 31 2021 using the FIFO FirstIn ... View the full answer