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