26. MSU, Inc. uses a periodic inventory system and its inventory records contain the following...
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26. MSU, Inc. uses a periodic inventory system and its inventory records contain the following information Units Total Cost Beginning inventory: 600 $ 1,560 Purchased on May 10 800 2,340 Purchased on June 15 1,000 2,520 Purchased on August 28 600 1,980 3,000 $ 8,400 The company sold 2,000 units during the year. There were 1,000 units in its ending inventory. If MSU uses the FIFO costing method, what is the cost of its ending inventory? $3,240 $2,988 $2,730 $2,800 $8,400
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