Accounting Practice Problems Periodic Inventory - FIFO, LIFO, and Average Cost Practice Problems Solution: Consider the following: Eighty-three units were s...

Solution: Consider the following: Eighty-three units were sold. What is the value assigned to the ending inventory using the FIFO method of inventory costing? a. $5,000 b. $30,000 c. $35,000 d. $10,000

Problem

Consider the following:

Eighty-three units were sold. What is the value assigned to the ending inventory using the FIFO method of inventory costing?

a. $5,000

b. $30,000

c. $35,000

d. $10,000