Alphabet Company, which uses the periodic inventory method, purchases different letters for resale. Alphabet had no begi
Posted: Tue Jul 05, 2022 11:49 am
Alphabet Company, which uses the periodic inventory method,purchases different letters for resale. Alphabet had no beginninginventory. It purchased A thru G in January at $4 per letter. InFebruary, it purchased H thru L at $6 per letter. It purchased Mthru R in March at $7 per letter. It sold A, D, E, H, J and N inOctober. There were no additional purchases or sales during theremainder of the year. If Alphabet Company uses the FIFO method,what is the cost of its ending inventory?