Elly Company uses a periodic inventory system. Details for the inventory account for the month...
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Accounting
Elly Company uses a periodic inventory system. Details for the inventory account for the month of January, 2017 are as follows: Units Per Unit Price Price Balance, 1/1/17 200 $5.00 $1,000 Purchase, 1/15/17 100 5.30 530 Purchase, 1/28/17 100 5.50 550 At end of the month (1/31/17) inventory showed that 150 units were on hand. If the company uses FIFO, what is the value of the ending inventory? Group of answer choices $750 $805 $850 $815
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