Answer:
<u>Ending Inventory 2,092</u>
<u></u>
Explanation:
PURCHASES
DATE QUANTY PRICE SUBTOTAL
1 186 $6.935484 $1,290.00
10 248 $7.78226 $1,930.00
15 248 $8.38710 $2,080.00
28 186 $8.81720 $1,640.00
<em>Inventory on hand 260</em>
Using FIFO <u>we have to pick from the bottom of the table</u> until reach 240 unit.
last line: June 28th 186 units total cost 1640
<em>240 - 186 = 54 units </em>
we need 54 more units so we go to next purchase
June 15th 54 units at 8.3810 = 542.034 = 542
Now we add to get total ending ivnentory
186 units 1640
54 units 452
<u>Ending Inventory 2,092</u>
