Actinote uses FIFO and started the month with 3,000 units in inventory that cost $3.20...
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Accounting
Actinote uses FIFO and started the month with 3,000 units in inventory that cost $3.20 each. On August 5, they purchased an additional 6,000 units of inventory for $3.50 and on August 10 they purchased 2,400 units of inventory for $3.60. On August 31, the company had 3,900 units on hand. What should the company report as ending inventory for the month?
$14,040
$13,890
$13,390
$12,480
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