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konstantin123 [22]
3 years ago
13

Wildhorse Co. uses a periodic inventory system. Details for the inventory account for the month of January 2017 are as follows:

Business
1 answer:
OLEGan [10]3 years ago
6 0

Answer:

Ending inventory=  $1514

Explanation:

Giving the following information:

Beginning inventory: 320u*$5.00= $1600

Purchase, (1/15/2017)= 160u*5.70= $912

Purchase, (1/28/2017)= 160u*5.90= $944

Ending inventory= 260u

The company uses FIFO (first in, first out).

What is the value of ending inventory?

Ending inventory= 160u*5.90 + 100u*5.70= $1514

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