(Please show work) Use the following data of Draker Company: Unit Total Units Cost Cost Beginning...

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(Please show work) Use the following data of Draker Company: Unit Total Units Cost Cost Beginning...

(Please show work)

Use the following data of Draker Company:

		Unit	Total
	Units	Cost	Cost
Beginning inventory	16	$120	$1,920
Purchase on July 3	37	125	4,625
Sales	45	?	?

Draker's ending inventory using the FIFO method would be:

$1,000

business accounting

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Answer 1

Answer #1

Ending inventory = total units available - sold

= (16 +37) - 45

= 8 units

Hence cost of inventory = 8 × 125

= $1000

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Answer 2

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