A Company Purchases and Sells Roofoo

question 5

Multiple Choice

A company purchases and sells Roofoo. It began last year with five units of Roofoo on hand at a cost of $10 each, and during the year its purchases and sales were as follows:

What was the value of the ending inventory of Roofoo, using the FIFO assumption?

• A) $30
• B) $39
• C) $45
• D) $15