Question

Inventory records for Dunbar Incorporated revealed the following:

Date Transaction Number of Units Unit Cost
Apr. 1 Beginning inventory 410 $2.33
Apr. 20 Purchase 380 2.74

Dunbar sold 640 units of inventory during the month. Ending inventory assuming FIFO would be (Do not round your intermediate calculations. Round your answer to the nearest dollar amount):
A. $349.
B. $955.
C. $411.
D. $1,123.

Answer 1

Ending inventory assuming FIFO would be $411

Step-by-step explanation:

Date Q U.cost Cost Sold Inventory Cost

april 1 410 2,33 955,3 410 0 0

apri 20 380 2,74 1041,2 230 150 411

640