Question: The inventory data for an item sold by Able Co. for November is as follows: Nov. 1 Inventory 55 units at $25 each 10

The inventory data for an item sold by Able Co. for November

The inventory data for an item sold by Able Co. for November is as follows: Nov. 1 Inventory 55 units at $25 each 10 Purchase 65 units at $26 each 20 Purchase 75 units at $27 each Nov. 30 Ending Inventory: 60 units Using the First-in, First-out (FIFO) method, what is the ending inventory recorded on Able's balance sheet at November 30? 1.$1,620 2. $3,470 3.$1,505 4. $3,585 QUESTION 36

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