Hudson Company started its year with 600 units of beginning inventory at a cost of $4.00....

 

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Hudson Company started its year with 600 units of beginning inventory at a cost of $4.00. During the year, the company made the following purchases: May, 900 units at $5.00 and July, 500 units at $6.00. A physical count of inventory at year-end indicates that there are 700 units in ending inventory. What is the cost of the ending inventory if Hudson Company uses the periodic system and the FIFO method for costing inventory? Hudson Company started its year with 600 units of beginning inventory at a cost of $4.00. During the year, the company made the following purchases: May, 900 units at $5.00 and July, 500 units at $6.00. A physical count of inventory at year-end indicates that there are 700 units in ending inventory. What is the cost of the ending inventory if Hudson Company uses the periodic system and the FIFO method for costing inventory?

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To calculate the cost of the ending inventory using the periodic system and the FIFO FirstInFirst... View the full answer