During the year, Demetria Wood Products had the following units of a particular kitchen cabinet available for sale:
Cost of Goods Available for Sale |
Date |
Units
|
Cost
Per Unit
|
Total
Cost
| | January 1 Inventory | 20 | $ 160 | $ 3,200 | | February 24 Purchase | 30 | $ 168 | 5,040 | | August 21 Purchase | 30 | $ 136 | 4,080 | | Available for Sale | 80 | | $ 12,320 |
Demetria uses the periodic system to track inventory. At the end of the year, the business had 27 of these cabinets on hand. |
| If Demetria uses the first-in, first-out method, what amount of merchandise inventory will the company report at year-end? |
