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A Company's Inventory Records Report the Following On August 15, It Sold 30 Units

Question 68

Multiple Choice

A company's inventory records report the following:  August 1  Begining balance 15 units @ $12  August 5  Purchase 10 units @ $13  August 12  Purchase 20 units @ $14 \begin{array} { | l | l | l | } \hline \text { August 1 } & \text { Begining balance } & 15 \text { units @ \$12 } \\\hline \text { August 5 } & \text { Purchase } & 10 \text { units @ \$13 } \\\hline \text { August 12 } & \text { Purchase } & 20 \text { units @ \$14 } \\\hline\end{array} On August 15, it sold 30 units. Using the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale?


A) $140
B) $590
C) $380
D) $160
E) $210

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