Eloise Corp. uses the FIFO retail inventory method and reports the following information:
$\begin{array}{c}
\begin{array}{l}
\underline{\text { Retail }} \
\$ 28,000 \
24,800\
1,000 \
3,000 \
400
\end{array}
\begin{array}{lll}
\underline{\text {Cost}}\
\$ 21,450 \
\
\
2,100\
\
\end{array}
\begin{array}{lll}
\
\text {Purchases}\
\text {Sales}\
\text {Net markups}\
\text {Beginning inventory}\
\text {Net markdowns}
\end{array}
\end{array}$

What is the cost of ending inventory for Eloise Corp.?

Question

Eloise Corp. uses the FIFO retail inventory method and reports the following information: 
$\begin{array}{c}
\begin{array}{l}
\underline{\text { Retail }} \
\$ 28,000 \
24,800\
1,000 \
3,000 \
400
\end{array}
\begin{array}{lll}
\underline{\text {Cost}}\
 \$ 21,450 \
\
\
2,100\
\
\end{array}
\begin{array}{lll}
\
\text {Purchases}\
\text {Sales}\
\text {Net markups}\
\text {Beginning inventory}\
\text {Net markdowns} 
\end{array}  
\end{array}$

What is the cost of ending inventory for Eloise Corp.?

Quizplus · Accepted Answer

The Answer of Eloise Corp. uses the FIFO retail inventory method and reports the following information: 
$\begin{array}{c}
\begin{array}{l}
\underline{\text { Retail }} \
\$ 28,000 \
24,800\
1,000 \
3,000 \
400
\end{array}
\begin{array}{lll}
\underline{\text {Cost}}\
 \$ 21,450 \
\
\
2,100\
\
\end{array}
\begin{array}{lll}
\
\text {Purchases}\
\text {Sales}\
\text {Net markups}\
\text {Beginning inventory}\
\text {Net markdowns} 
\end{array}  
\end{array}$

What is the cost of ending inventory for Eloise Corp.?

Eloise Corp What Is the Cost of Ending Inventory for Eloise Corp