Homework Answers
Beginning inventory = 14,000 units at $2 per unit
Purchases = 9,000 units at $10 per unit
Number of units sold = 6,500
As Per FIFO method, units purchased first are charged to cost. hence, 6,500 units sold must be from the beginning inventory. Hence, ending inventory will comprise of 7,500 units from the beginning inventory and 9,000 units pruchased.
| Units | Units cost | Total cost |
| 7,500 | $2 | 15,000 |
| 9,000 | $10 | 90,000 |
| 16,500 | $105,000 |
Cost of ending inventory = $105,000
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