Use the following information to answer:
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Purr-A-Lot, Inc. for an operating period.

-Assuming Purr-A-Lot, Inc. uses FIFO perpetual inventory procedures, the ending inventory cost is:

Question

Use the following information to answer:
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Purr-A-Lot, Inc. for an operating period.
 
-Assuming Purr-A-Lot, Inc. uses FIFO perpetual inventory procedures, the ending inventory cost is:

Quizplus · Accepted Answer

(40 x $88) + (8 x $100) = $4,320

Use the Following Information to Answer