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Calculate the dollar value of the ending inventory

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During the past year, a plumbing supply house sold 503 faucets. Inventory records for the year are as follows:

DATE   QUANTITY COST TOTAL
January 15 Beginning Inventory 28 $11.25 $ 315
March 22 Purchase 74 12.50 925
April 24 Purchase 150 20.00 3,000
October 10 Purchase 250 12.50 3,125
December 31 Purchase 500 8.25 4,125
Total available for sale   1,002 $11,490

Using the FIFO method of inventory pricing, calculate the dollar value of the ending inventory.

Reference no: EM131757317

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