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Can you explain in detail how you arrived to the answe 30 company had...

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Accounting

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Can you explain in detail how you arrived to the answe

30 company had 800 widgets in inventory, valued at $75 each. During the year ended 31 December 20x5 the following transactions took place. 20X5 500 widgets At $80 each 1 February Purchased 400 widgets For $45,000 1 May Sold Purchased 450 widgets 1 August At $69 each Sold 450 widgets 15 November For $28,750 What is the value of the company's closing inventory of widgets at 31 December 20X5? $8,000 B $66,854 C $67,050 D $68,000 A company values its inventory using the first in, first out (FIFO) method. At 1 January 20x5 the

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