Question: AAA Co. uses a periodic inventory system and has the following information in regard to its inventory: Beginning inventory 300 units @ 13 $ 3,900

AAA Co. uses a periodic inventory system and has the following information in regard to its inventory:

Beginning inventory 300 units @ 13 $ 3,900
Purchase on January 25 400 units @ 14 5,600
Purchase on March 15 300 units @ 15 4,500
Purchase on October 2 500 units @ 16 8,000
Goods available for sale $ 22,000

There are 750 units in ending inventory. What is the amount of the ending inventory using the FIFO method?

Multiple Choice

  • $11,750

  • $3,900

  • $9,500

  • $8,000

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