Greetings,

I need help with this question.

Transactions for the month of June were:

Purchases

Sales

June

1

(balance)

3,200

@

$3

.20

June

2

2,400

@

$5

.50

3

8,800

@

3

.10

6

6,400

@

5

.50

7

4,800

@

3

.30

9

4,000

@

5

.50

15

7,200

@

3

.40

10

1,600

@

6

.00

22

2,000

@

3

.40

18

5,600

@

6

.00

25

800

@

6

.00

Assuming that perpetual inventory records are kept in dollars, the ending inventory on a FIFO basis is

1. 17,880
2. 16,640
3. 17,680
4. 16,440