Respuesta :
Answer:
Cost of the ending inventory 335
Explanation:
FIFO Units Cost Sell Cost Un. Ending Inventory
April 5 5 10 1 50 4 40
April 10 5 12 60 5 60
April 15 5 14 70 5 70
April 20 5 16 80 5 80
April 22 5 17 85 5 85
335
Answer:
Cost of Ending Inventory is $ 67.
Explanation:
FIFO stands for First in First out. It is type of inventory valuation method which assumes that the inventory/stock which is purchased earlier must be issued to production. Thus, the closing inventory in case of FIFO method are composed of recently items purchased.
Cost of Ending inventory
Date Units Purchased Per Unit Cost Total Cost
April-05 5 2 10
April-10 5 2.4 12
April-15 5 2.8 14
April-20 5 3.2 16
April-22 5 3.4 17
Closing Inventory on April-22 69
One Unit is sold on April-25;
April-25 (1) (2) (2)
Closing inventory after sales of one unit;
Date Units in Hand Per Unit Cost Total Cost
April-05 4 2 8
April-10 5 2.4 12
April-15 5 2.8 14
April-20 5 3.2 16
April-22 5 3.4 17
Closing Inventory on April-25 67
