Jade Inc.recorded the following information pertaining to its inventory for the month of January: $$\begin{array} { r l l }
1 & \text { Inventory } & 80 \text { units at } \$ 20 \text { each } \
18 & \text { Purchase } & 150 \text { units at } \$ 25 \text { each } \
& \text { Sales } & 106 \text { units }
\end{array}$$
The business uses the first-in, first-out inventory costing method.Determine the cost of the inventory on hand at the end of January.

Question

Jade Inc.recorded the following information pertaining to its inventory for the month of January: $$\begin{array} { r l l } 
1 & \text { Inventory } & 80 \text { units at } \$ 20 \text { each } \
18 & \text { Purchase } & 150 \text { units at } \$ 25 \text { each } \
& \text { Sales } & 106 \text { units }
\end{array}$$ ​
The business uses the first-in, first-out inventory costing method.Determine the cost of the inventory on hand at the end of January.

Quizplus · Accepted Answer

The Answer of Jade Inc.recorded the following information pertaining to its inventory for the month of January: $$\begin{array} { r l l } 
1 & \text { Inventory } & 80 \text { units at } \$ 20 \text { each } \
18 & \text { Purchase } & 150 \text { units at } \$ 25 \text { each } \
& \text { Sales } & 106 \text { units }
\end{array}$$ ​
The business uses the first-in, first-out inventory costing method.Determine the cost of the inventory on hand at the end of January.

Jade Increcorded the Following Information Pertaining to Its Inventory for the the Month