(Solution Document) CAISCO Sales Inc. had a beginning inventory of May comprising of 700 units that had a cost of $80/unit. A summary of purchases and sales during the...


CAISCO Sales Inc. had a beginning inventory of May comprising of 700 units that had a cost of $80/unit. A summary of purchases and sales during the month of May are as follows:



DateUnit CostUnits PurchasedUnits soldMay 2400May 6$831,200May 10900May 19$85800May 23500May 30$88300



Assume that CAISCO Sales Inc. uses a periodic inventory system. What is the value of ending inventory using FIFO?

$99,600

$105,600

$102,700

$97,500

None of the other alternatives are correct

 







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