Chapter 16.I, Problem 1TIE

You are the merchandise manager at Best Buy. The following data represent your records of the annual inventory figures for a particular video game.

Best Buy
January 1	Beginning Inventory	200 units @ $8.00	$1,600
May 14	Purchase	100 units @ $8.50	850
August 27	Purchase	250 units @ $9.00	2,250
November 18	Purchase	300 units @ $8.75	2,625
Video games available for sale		$\underset{\_}{\underset{\_}{850}}$	$\underset{\_}{\underset{\_}{\$7,325}}$

Using the FIFO method of inventory pricing, what is the dollar value of ending inventory if 380 video games were on hand on December 31?