Question

Smart Co. has the following data related to an item of inventory: Inventory, March 1 140...

Smart Co. has the following data related to an item of inventory:

Inventory, March 1

140 units @ $7.65

Purchase, March 7

350 units @ $8.34

Purchase, March 16

66 units @ $15.91

Inventory, March 31

164 units

The value assigned to ending inventory if Smart uses periodic FIFO is:

Select one:

a. $1743.87

b. $1367.76

c. $2609.24

d. $1867.38

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