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A company has beginning inventory of 28 units at a cost of $12.50 each on...

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Accounting

A company has beginning inventory of 28 units at a cost of $12.50 each on October 1. On October 5, it purchases 20 units at $13.50 per unit. On October 12 it purchases 30 units at $14.50 per unit. On October 15, it sells 60 units. Using the FIFO periodic inventory method, what is the value of the inventory at October 15 after the sale?

Multiple Choice

$225.00

$261.00

$290.00

$486.00

$551.00

Answer & Explanation Solved by verified expert
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