A Company Had Inventory on November 1 of 5 Units

question 210

Multiple Choice

A company had inventory on November 1 of 5 units at a cost of $20 each. On November 2, they purchased 10 units at $22 each. On November 6, they purchased 6 units at $25 each. On November 8, 8 units were sold for $55 each. Using the FIFO perpetual inventory method, what was the value of the inventory on November 8 after the sale?

• A)$304
• B)$296
• C)$288
• D)$280
• E)$276

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