Given the Following Information, Determine the Cost of Ending Inventory

question 51

Short Answer

Given the following information, determine the cost of ending inventory at November 30 using the FIFO perpetual inventory method.
November 3: 15 units were purchased at $8 per unit.
November 11: 18 units were purchased at $9.50 per unit.
November 15: 15 units were sold at $45 per unit.
November 18: 30 units were purchased at $10.75 per unit.
November 30: 20 units were sold at $55 per unit.

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Definitions:

Cycloaddition

A chemical reaction in which two or more unsaturated molecules (or parts of the same molecule) combine to form a cyclic product.

HOMO/LUMO Interaction

Refers to the interaction between the Highest Occupied Molecular Orbital (HOMO) of one molecule and the Lowest Unoccupied Molecular Orbital (LUMO) of another molecule, important in determining the outcome of chemical reactions.

Cycloocta-1,5-diene

A cycloalkene with eight carbon atoms and two double bonds located at the first and fifth positions.

Stereochemistry

A branch of chemistry concerned with understanding and describing the three-dimensional arrangement of atoms within molecules, particularly focusing on isomers.