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 


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?
To calculate: The dollar value of ending inventory if 380 video games were on hand on December 31 with the help of FIFO method of inventory pricing.
The data represent the records of the annual inventory figures for a particular video game.
The data at Best Buy of the merchandise manager is given as follows
Given Information:
It is given that the data represent the records of the annual inventory figures for a particular video game.
The data at Best Buy of the merchandise manager is given as follows
Formula used:
Use following steps for FIFO method of inventory pricing
Step1. Write the list of the number of units on hand at the end of the year and their corresponding costs starting with the ending balance and then work backward through the income shipments.
Step2. Multiply the number of units by the corresponding cost per units for each purchase.
Step3
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