Question - CAISCO Sales Inc. had a beginning inventory of May comprising of 700 units that had a cost of $80/unit. A summary of purchases and sales during the month of May are as follows:
DateUnit CostUnits PurchasedUnits soldMay 2400May 6$831,200May 10900May 19$85800May 23500May 30$88300
Assume that CAISCO Sales Inc. uses a periodic inventory system. What is the value of ending inventory using FIFO?
$99,600
$105,600
$102,700
$97,500
None of the other alternatives are correct