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Blue Jay Inc Calculate the Cost of Ending Inventory Using the FIFO Method

Question 67

Multiple Choice

Blue Jay Inc.reported the following transactions for the month of March:? 1 Beginning inventory 15 units at $6 each 5 Purchase 29 units at $9 each 13 Purchase 25 units at $12 each 20 Purchase 15 units at $14 each 31 Ending inventory 30 units \begin{array} { r l l } 1 & \text { Beginning inventory } & 15 \text { units at } \$ 6 \text { each } \\5 & \text { Purchase } & 29 \text { units at } \$ 9 \text { each } \\13 & \text { Purchase } & 25 \text { units at } \$ 12 \text { each } \\20 & \text { Purchase } & 15 \text { units at } \$ 14 \text { each } \\31 & \text { Ending inventory } & 30 \text { units }\end{array} Calculate the cost of ending inventory using the FIFO method.


A) $420
B) $390
C) $216
D) $510

Correct Answer:

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