A company starts out with 800 units if a particular item in inventory.Assume that their cost is $10 ach. Over the next three months it buys 100 more units at $11 each,and then 50 more units at $12 each. It sold 200 units during that three months, and it uses the Last In First Out method, you would assume that all of the remaining units should e valued at ----each. a. $10 b. $11. c. $12. d. none of the above answers is correct because you must average the various purchase prices to find the amount to apply to the ending inventory




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    number of units = 800 at a price of a unit = $10       cost : $ 8, 000

100 more units  at $11 each  => cost    $1,100
50 more units  at $12 each    =>  cost  $600

Sold 200 units using the last in first out method.  So the company sold previously bought 50 units, 100 units, and 50 units from the first.

what is price of selling of the 200 units ?  What is the profit expected at the end ?

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