Question

The following information pertains to Julia & Company: March 1 Beginning inventory = 29 units @ $5.80 March 3 Purchased 12 units @ 4.00 March 9 Sold 23 units @ 8.60 What is the ending inventory balance for Julia & Company assuming that it uses FIFO?

Answer 1

Answer:6 units @5.8usd, 12 units @4.0usd. Total 82.8usd

Explanation: Fifo means first in first out. Then first to sell 23 units on 29 unit from march 1st