During June, the following changes in inventory item 27 took place: June 1 Balance 1,420...
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During June, the following changes in inventory item 27 took place: June 1 Balance 1,420 units @ $35 8 Sold 300 units @ $74 10 Sold 1,120 units @ $60 14 Purchased 870 units @ $55 24 Purchased 700 units @ $45 29 Sold 510 units @ $65 Perpetual inventories are maintained. (a) What is the cost of the ending inventory for item 27 under the FIFO method? Cost of the ending inventory
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