Patricia Company uses the periodic inventory system to account for inventories. Information related to Patricia Company'

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Patricia Company Uses The Periodic Inventory System To Account For Inventories Information Related To Patricia Company 1 (311.39 KiB) Viewed 32 times

Patricia Company uses the periodic inventory system to account for inventories. Information related to Patricia Company's inventory at October 31 is given below: October 1 Beginning inventory 395 units X $9.80 $3,871 8 Purchase 780 units X $10.00 = 7,800 16 Purchase 610 units X $10.80 = 6,588 24 Purchase 210 units X $11.50 2,415 Total units and cost 1.995 units $20,674 (a) Value the ending inventory using the FIFO cost assumption if 500 units remain on hand at October 31. (Round answer to 0 decimal places, e.g. 5,275.) Ending Inventory $ Save for Later Attempts: 0 of 1 used Submit Answer