Blossom Company has the following inventory dа ta:

Nov. 1 Inventory 35 units @ $7.10 each

8 Purchase 142 units @ $7.60 each

17 Purchase 71 units @ $7.45 each

25 Purchase 106 units @ $7.80 each

A physical count of merchandise inventory on November 30 reveals that there are 118 units on hand. Ending inventory (rounded) under FIFO is

Ending inventory = $916.2

Explanation:

Giving the following information:

Nov. 1 Inventory: 35 units $7.10 each

Nov. 8 Purchase: 142 units $7.60 each

Nov. 17 Purchase: 71 units $7.45 each

Nov. 25 Purchase: 106 units $7.80 each

Nov. 30 ending inventory: 118 units on hand. FIFO (first-in, first-out)

Ending inventory = 106*7.8+12*7.45 = $916.2