Inventory 8 Purchase 17 Purchase Purchase 15 units 800 60 u

Inventory 8 Purchase 17 Purchase Purchase 15 units @ $8.00 60 units @ $8.30 30 units @ $8.40 45 units@ $8.80 Nov. 1 Netta Shutters has the following inventory information. A physical count of merchandise inventory on November 30 reveals that there are 45 units on hand. Assume a periodic inventory system is used. Ending inventory under FIFdys $369 $396 $870 $897.

Solution

B. $396

Ending inventory under FIFO = 45 * $8.80

Ending inventory under FIFO = $396