INTERMEDIATE ACCOUNTING (ACCT 4950)
10th Edition
ISBN: 9781307662122
Author: SPICELAND
Publisher: MCG/CREATE
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A company has an inventory of 10 units at a cost of $14 each on November 1. On November 3, they purchased 8 units at $17 per unit. On November 10, they purchased 15 units at $18 per unit. On November 14, they sold 28 units. Using the FIFO periodic inventory method, what is the value of the inventory on November 14 after the sale?
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