Based on journal entries below for $2015$ and $2016,$ what is the

ASSETS TOTAL in $2016?$

Apply FIFO.

$2015$

$2016$

You contributed $$100$ cash to

You contributed $$60$ cash to

your business

start business

You purchased $2$ products @

You purchased $6$ products @

$$15,$ with Cash

$$10,$ with $\frac{A}{P}$

You sold $3$ products @$$30$ with

You sold $4$ products @$$30$ with

AR

cash

Record COGS $($FIFO$)$

Record COGS $($FIFO$)$

You paid $$50$ to your supplier.

You received $$50$ from your

customer.

$305$

$300$

$295$

$290$