Question

The value of the inventory after the sale would be $935.

18@$22=$396

23@$23=$529

19@$25=$475

Total——$1,400

minus

18@$22=$396

3@$23=$69

Total inventory on November 8=$935

you are doing FIFO, which is first in first out, so you take outfrom the top of the list. The first 18 units @ $22=$296. You stillhave 3 of the 21 units to account for, so you are going to takethem from the next inventory that came in, so you would take 3 ofthe units at $23=$69. $296+$69=$465. $1400-$465=$935