The Ending Inventory Assuming FIFO Is

Multiple Choice

The ending inventory assuming FIFO is:

A) $5,140.
B) $5,080.
C) $5,060.
D) $5,050.Ending inventory is assumed to consist of 600 gallons from Mar.23 purchase: 600 $7.35 = $4,410
+ 100 from the Mar.16 purchase:
100 $7.30 = $730;
Total = $5,140.