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• Date Units Purchased $7,020.00 Beginning Inventory, Jan. 1 Purchase, Apr 14 $19.89 Purchase, July 17 $19.25 Purchase, Oct 31 $19.50 Total Goods Available for Sale(GAS) Cost of GAS The buyer at Bourbon Street Distributors took physical inventory on December 31 and found that 360 cases of Hotter than All Get-Out Hot Sauce remained in inventory. What is the dollar value of the ending inventory using the FIFO method? 275 550 900 Cost/Unit 1,234 Total Cost $21.50 $5,912.50 $10,939.50 $17,325.00 $24,063.00

• Date Units Purchased $7,020.00 Beginning Inventory, Jan. 1 Purchase, Apr 14 $19.89 Purchase, July 17 $19.25 Purchase, Oct 31 $19.50 Total Goods Available for Sale(GAS) Cost of GAS The buyer at Bourbon Street Distributors took physical inventory on December 31 and found that 360 cases of Hotter than All Get-Out Hot Sauce remained in inventory. What is the dollar value of the ending inventory using the FIFO method? 275 550 900 Cost/Unit 1,234 Total Cost $21.50 $5,912.50 $10,939.50 $17,325.00 $24,063.00

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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Date Beginning Inventory, Jan. 1 Purchase, Apr 14 Purchase, July 17 Purchase, Oct 31 $7,020.00 $6,930.00 Units Purchased $7,740.00 $7160.40 275 550 900 1,234 Cost/Unit $21.50 $19.89 $19.25 $19.50 Total Goods Available for Sale(GAS) The buyer at Bourbon Street Distributors took physical inventory on December 31 and found that 360 cases of Hotter than All Get-Out Hot Sauce remained in inventory. What is the dollar value of the ending inventory using the FIFO method? Total Cost Cost of GAS $5,912.50 $10,939.50 $17,325.00 $24,063.00 YOS
Transcribed Image Text:Date Beginning Inventory, Jan. 1 Purchase, Apr 14 Purchase, July 17 Purchase, Oct 31 $7,020.00 $6,930.00 Units Purchased $7,740.00 $7160.40 275 550 900 1,234 Cost/Unit $21.50 $19.89 $19.25 $19.50 Total Goods Available for Sale(GAS) The buyer at Bourbon Street Distributors took physical inventory on December 31 and found that 360 cases of Hotter than All Get-Out Hot Sauce remained in inventory. What is the dollar value of the ending inventory using the FIFO method? Total Cost Cost of GAS $5,912.50 $10,939.50 $17,325.00 $24,063.00 YOS
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