Partridge Bookstore had 500 units on hand at January 1, cost…
Partridge Bookstore had 500 units on hand at January 1, costing $18 each. Purchases during the month of January were as follows:Date Purchases Jan 17 250 @ $2025 250 @ $22 Partridge does not maintain perpetual inventory records. According to a physical count, 365 units were on hand at January 31.The cost of the inventory at January 31, under the FIFO method is: