Ask Question
27 January, 02:49

On december 31 there were 26 units remaining in ending inventory. using the fifo inventory valuation method, what is the cost of the ending inventory?

+3
Answers (1)
  1. 27 January, 04:30
    0
    Under the FIFO method of inventory valuation, the ending inventory is assumed to belong to the latest purchases. Hence in the given case, the cost of ending inventory shall be calculated using the latest purchases costs.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “On december 31 there were 26 units remaining in ending inventory. using the fifo inventory valuation method, what is the cost of the ending ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers