A company has beginning inventory of 10 units at a cost of $30 each on february 1. on february 3, it purchases 40 units at $32 each. 13 units are sold on february 5. using the fifo periodic inventory method, what is the cost of the 13 units that are sold?

Question

Edgar Ayers

9 December, 03:44

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Teresa Bentley · Answer 1

10 units sold at $30 each equals $300. Then 3 units sold at $32 each equals $96.

Therefore;

300+96=

cost of units sold = $396