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QUESTION 13 Suppose that David had the following transactions for his business inventory of widgets...

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Accounting

QUESTION 13

Suppose that David had the following transactions for his business inventory of widgets (purchase prices below).

Widget Purchase Date Direct Cost Other Costs Total Cost #1 August 15 $ 2,100 $ 100 $ 2,200 #2 October 30 $ 2,200 $ 150 $ 2,350 #3 November 10 $ 2,400 $ 100 $ 2,500

In late December, David sold widget #2. What ending inventory would David record if he elects to use the FIFO method this year?

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