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Question

# The Zonex Plumbing and Supply Company purchased these quantities of water heaters from April 1 to June 30: April 28, 41 @ $146; May 19, 53 @$139; June 23, 21 @ $149. The April 1 beginning inventory of 27 units was valued at$141 each. Find the value of the ending inventory of 35 water heaters:

Solution

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Step 1
1 of 2

$21\times \149+14\times \139=\5,075$

The first in first out method uses the price of the last heaters to have been bought.

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