Assumes Tiger Company had 60 units in beginning Finished Goods Inventory and sold 1,200 units. Additional data includes:   Units produced 1,300 units Direct materials     $13 per unit Direct labor 9 per unit Variable manufacturing overhead 3 per unit Fixed manufacturing overhead 8 per unit   Using variable costing, what is the dollar amount of ending Finished Goods Inventory?     ANSWER       $3,750   $4,000   $1,050   $5,280   I DON'T KNOW YET

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.