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The Rock Shop shows the following data related to an item of inventory:
Inventory, January 1 300 units @ $5.00 = $1,500
Purchase, January 9 1300 units @ $6.00 = 7,800
Purchase, January 19 400 units @ $8.00 = 3,200
Total 2,000 units = $12,500
Inventory, January 31 600 units
What is value assigned to ending inventory on January 31 if FIFO is used?
Group of answer choices
4400
3300
8100
9200
Answer & Explanation
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