• The Hat Store had the following series of transactions for Year 2:

  Date	Transaction	Description
  Jan. 1	Beginning inventory	55	units	@	$	22.50
  Mar. 15	Purchased	200	units	@	$	26.50
  May 30	Sold	180	units	@	$	26.50
  Aug. 10	Purchased	275	units	@	$	27.50
  Nov. 20	Sold	330	units	@	$	42.50

  
  a. Determine the quantity and dollar amount of inventory at the end of the year, assuming The Hat Store uses the FIFO cost flow assumption and keeps perpetual records. (Round your answers to 2 decimal places.)

Answer rating: 100% (QA)

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