Question

Assume that sparks uses a perpetual fifo inventory system. Its ending inventory consists of 9 units. Calculate the dollar value of its ending inventory.

Answer 1

The value of the ending inventory will be $162.

How to calculate the ending inventory?

From the information given, it was stated that Sparks uses a perpetual fifo inventory system. Its ending inventory consists of 9 units.

The value of the ending inventory will be:

= 9 units × $18.

= $162

In conclusion, the ending inventory is $162.

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