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12 15 18 22 25 30 Totals (a1) Purchase Sale Purchase Sale Purchase Sale 410 Ending inventory 300 540 2,150 5.00 5.10 4.40 2,050 1,530 2,376 $9,636 230 410 230 1,470 7.80 7.80 7.40 1,794 3,198 1,702 $11,014 Assuming that the periodic inventory method is used, calculate the inventory cost at May 31 under FIFO.

12 15 18 22 25 30 Totals (a1) Purchase Sale Purchase Sale Purchase Sale 410 Ending inventory 300 540 2,150 5.00 5.10 4.40 2,050 1,530 2,376 $9,636 230 410 230 1,470 7.80 7.80 7.40 1,794 3,198 1,702 $11,014 Assuming that the periodic inventory method is used, calculate the inventory cost at May 31 under FIFO.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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12 15 18 22 25 30 Totals (a1) Purchase Sale Purchase Sale Purchase Sale 410 Ending inventory $ 300 540 2,150 5.00 5.10 4.40 2,050 1,530 2,376 $9,636 230 410 230 1,470 7.80 7.80 7.40 1,794 3,198 1,702 $11,014 Assuming that the periodic inventory method is used, calculate the inventory cost at May 31 under FIFO.
Transcribed Image Text:12 15 18 22 25 30 Totals (a1) Purchase Sale Purchase Sale Purchase Sale 410 Ending inventory $ 300 540 2,150 5.00 5.10 4.40 2,050 1,530 2,376 $9,636 230 410 230 1,470 7.80 7.80 7.40 1,794 3,198 1,702 $11,014 Assuming that the periodic inventory method is used, calculate the inventory cost at May 31 under FIFO.
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