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Walker Manufacturing Had 517 Hot Tubs in Stock at the End

Question 77

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Walker Manufacturing had 517 hot tubs in stock at the end of the year. Inventory records show the following information:  DATE  QUANTITY  COST  TOTAL  January 1 B eginning 200$6,307$1,261,400 April 21 Inventory  July 24  Purchase 3505,1941,817,900 August 1  Purchase 505,141257,050 December 8  Purchase 505,512275,600 Total available for sale  Purchase 4506,5722,957,4001,100$6,569,350\begin{array} { l l l l l } \text { DATE } & & \text { QUANTITY } & \text { COST } & \text { TOTAL } \\\hline \text { January } 1 & \text { B eginning } & 200 & \$ 6,307 & \$ 1,261,400 \\\text { April } 21 & \text { Inventory } & & & \\\text { July 24 } & \text { Purchase } & 350 & 5,194 & 1,817,900 \\\text { August 1 } & \text { Purchase } & 50 & 5,141 & 257,050 \\\text { December 8 } & \text { Purchase } & 50 & 5,512 & 275,600 \\\text { Total available for sale } & \text { Purchase } & 450 & 6,572 & 2,957,400 \\\hline & 1,100 & & \$ 6,569,350\end{array} Using the FIFO method of inventory pricing, calculate the dollar value of the ending inventory.

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