Wildhorse co. uses a periodic inventory system. details for the inventory account for the month of january 2017 are as follows:
units per unit price total
balance, 1/1/2017 320 $5.00 $1600
purchase, 1/15/2017 160 ..5.70 912
purchase, 1/28/2017 160 ..5.90 944
an end of the month (1/31/2017) inventory showed that 260 units were on hand. if the company uses fifo, what is the value of the ending inventory?

Ending inventory=  $1514

Explanation:

Giving the following information:

Beginning inventory: 320u*$5.00= $1600

Purchase, (1/15/2017)= 160u*5.70= $912

Purchase, (1/28/2017)= 160u*5.90= $944

Ending inventory= 260u

The company uses FIFO (first in, first out).

What is the value of ending inventory?

Ending inventory= 160u*5.90 + 100u*5.70= $1514

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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