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?

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asked Mar 2, 2019 190k views

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Peter Westerlund · Answer 1 · 2019-03-06T12:52:44+0000

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.

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?

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