Walker manufacturing had 517 hot tubs in stock at the end, Accounting Basics

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Walker manufacturing had 517 hot tubs in stock at the end

Question: Walker Manufacturing had 517 hot tubs in stock at the end of the year. Inventory records show the following information:

DATE		QUANTITY	COST	TOTAL
January 1	Beginning Inventory	200	$6,307	$1,261,400
April 21	Purchase	350	5,194	1,817,900
July 24	Purchase	50	5,141	257,050
August 1	Purchase	50	5,512	275,600
December 8	Purchase	450	6,572	2,957,400
Total available for sale		1,100		$6,569,350

Using the FIFO method of inventory pricing, calculate the dollar value of the ending inventory.

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Accounting Basics: Walker manufacturing had 517 hot tubs in stock at the end

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Accounting Basics: Walker manufacturing had 517 hot tubs in stock at the end

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