Question: Module 2/Chapter 5 and 6: Participation (Oct 20/21 Dr D Large) Question 8: Use the following information to answer the following questions: Beginning Inventory: 10,000

Module 2/Chapter 5 and 6: Participation (Oct 20/21 Dr D Large)

Module 2/Chapter 5 and 6: Participation (Oct 20/21 Dr D Large) Question 8: Use the following information to answer the following questions: Beginning Inventory: 10,000 Units @ $4.00/unit Purchase Layer #1: 5,000 Unit @ $4.00/unit Purchase Layer #1: 5,000 Unit @ $5.00/unit Purchase Layer #1: 5,000 Unit @ $6.00/unit Sales Layer #1: 6,000 units at $15.00/unit Sales Layer #2: 4,000 units at $15.00/unit What is the ending inventory value using FIFO? A $75,000 B $40,000 C $5,000 D $55,000 E None of the above

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