Kershaw Bookstore had 500 units on hand at January 1, costing $18 each. Purchases and sales during the month of January were as follows: Kershaw does not maintain perpetual inventory records. According to a physical count, 375 units were on hand at January 31.
The cost of the inventory at January 31, under the FIFO method is:

Question

Kershaw Bookstore had 500 units on hand at January 1, costing $18 each. Purchases and sales during the month of January were as follows:  Kershaw does not maintain perpetual inventory records. According to a physical count, 375 units were on hand at January 31.
The cost of the inventory at January 31, under the FIFO method is:

Quizplus · Accepted Answer

The Answer of Kershaw Bookstore had 500 units on hand at January 1, costing $18 each. Purchases and sales during the month of January were as follows:  Kershaw does not maintain perpetual inventory records. According to a physical count, 375 units were on hand at January 31.
The cost of the inventory at January 31, under the FIFO method is:

Kershaw Bookstore Had 500 Units on Hand at January 1