Walker Manufacturing Had 517 Hot Tubs in Stock at the End

question 50

Short Answer

Walker Manufacturing had 517 hot tubs in stock at the end of the year. Inventory records show the following information: $$\begin{array} { l l l l l } \text { DATE } & & \text { QUANTITY } & \text { COST } & \text { TOTAL } \\\hline \text { January } 1 & \text { B eginning } & 200 & \$ 6,307 & \$ 1,261,400 \\\text { April } 21 & \text { Inventory } & & & \\\text { July 24 } & \text { Purchase } & 350 & 5,194 & 1,817,900 \\\text { August 1 } & \text { Purchase } & 50 & 5,141 & 257,050 \\\text { December 8 } & \text { Purchase } & 50 & 5,512 & 275,600 \\\text { Total available for sale } & \text { Purchase } & 450 & 6,572 & 2,957,400 \\\hline & 1,100 & & \$ 6,569,350\end{array}$$ Using the FIFO method of inventory pricing, calculate the dollar value of the ending inventory.

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