Sanfillipo, Inc., had 800 units of inventory on hand at March 1, 2016, costing $20 each. Purchases
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Question:
Sanfillipo, Inc., had 800 units of inventory on hand at March 1, 2016, costing $20 each. Purchases and sales of inventory during the month of March were as follows:
Date | Purchases | Sales |
March 8 | 600 units | |
15 | 400 units @ $22 each | |
22 | 400 units @ $24 each | |
27 | 400 units |
Sanfillipo uses the periodic inventory system. According to a physical count, 600 units were on hand at the end of March.
The cost of inventory at the end of March applying the FIFO method is:
$12,000 $14,400 $12,900 $14,000help don't know where to begin
Related Book For
Cost Accounting Foundations and Evolutions
ISBN: 978-1111626822
8th Edition
Authors: Michael R. Kinney, Cecily A. Raiborn
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