The units of an item available for sale during the year were as follows:
There are 30 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost using FIFO.

Question

The units of an item available for sale during the year were as follows:
  There are 30 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost using FIFO.

Quizplus · Accepted Answer

The Answer of The units of an item available for sale during the year were as follows:
  There are 30 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost using FIFO.

The Units of an Item Available for Sale During the Year