Sanfillipo, Inc., had 800 units of inventory on hand at March 1, 2016, costing $20 each. Purchases and sales of inventory during the month of March were as follows:
| Date |
Purchases |
Sales |
| March 8 |
|
600 units |
| 15 |
400 units @ $22 each |
|
| 22 |
400 units @ $24 each |
|
| 27 |
|
400 units |
Sanfillipo uses the periodic inventory system. According to a physical count, 600 units were on hand at the end of March.
The cost of inventory at the end of March applying the FIFO method is:
$12,000 $14,400 $12,900 $14,000help don't know where to begin