Question

The data below are for parrett enterprises: beginning inventory 150 units at $2.00 purchase—august 375 units at $1.50 purchase—october 150 units at $3.00 a periodic inventory system is used; ending inventory is 330 units. what is the ending inventory under fifo?

Answer 1

it would be $720 for this question

Answer 2

Based on the inventory amounts for Parrett Enterprises, the ending inventory under FIFO would be $570.

What is FIFO?

FIFO is a method of inventory valuation where older goods are sold first.

The ending inventory of 330 units will come from the later purchases. This means that the value will be:

= (150 x 3) + ( (330 - 150) x 1.50)

= 450 + 270

= $720

Find out more on FIFO at https://brainly.com/question/12883706.

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