Tatsoi Company's purchase and sales transactions for the month of May were as follows: 
Assuming that Tatsoi keeps perpetual inventory records, the ending inventory on a FIFO basis is
Definitions:
Quantity Supplied
The amount of a good or service that producers are willing and able to sell at a given price during a specific time period.
Excess Demand
A situation in which the demand for a product or service exceeds its supply in a market.
Market Equilibrium
A condition in which the quantity of a product demanded by consumers equals the quantity supplied by producers, leading to a stable market price.
Market Equilibrium
The point where the supply of goods matches demand, resulting in a stable price.
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