At January 1, 2017, Nevada Ltd.had 150 units of product A on hand, costing $32 each.Purchases of product A during January were as follows: A physical count on January 31, 2017 shows 200 units of product A on hand.The cost of the inventory at January 31, 2017 under the FIFO cost formula is

Question

At January 1, 2017, Nevada Ltd.had 150 units of product A on hand, costing $32 each.Purchases of product A during January were as follows:  A physical count on January 31, 2017 shows 200 units of product A on hand.The cost of the inventory at January 31, 2017 under the FIFO cost formula is

Quizplus · Accepted Answer

The Answer of At January 1, 2017, Nevada Ltd.had 150 units of product A on hand, costing $32 each.Purchases of product A during January were as follows:  A physical count on January 31, 2017 shows 200 units of product A on hand.The cost of the inventory at January 31, 2017 under the FIFO cost formula is