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The firm uses the periodic system and there are 20 units

Question - The firm uses the periodic system and there are 20 units left at the end of the year. What is the amount of ending merchandise inventory at the end of the year using FIFO

Begining inventory 10 units at $60

first purchase- 25 units at $63

second purchase- 30 units at $64

third purchase- 15 units at $70

a. $1430

b. $1230

c. $1200

d. $1370

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Accounting Basics: The firm uses the periodic system and there are 20 units

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Accounting Basics: The firm uses the periodic system and there are 20 units

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