Sanfillipo, Inc., had 800 units of inventory on hand at March 1, 2018, costing $20...
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Accounting
Sanfillipo, Inc., had 800 units of inventory on hand at March 1, 2018, costing $20 each. Purchases and sales of inventory during the month of March were as follows:
Date
Purchases
Sales
March 8
600
units
15
400 units @ $22 each
22
400 units @ $24 each
27
400
units
Sanfillipo uses the periodic inventory system. According to a physical count, 600 units were on hand at the end of March. The cost of inventory at the end of March applying the FIFO method is:
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