Use the following information for questions
The inventory records for Radford Co.reflected the following

-Determine the amount of ending inventory assuming the FIFO cost flow method.
A)$480
B)$440
C)$400
D)$940

Question

Use the following information for questions 
The inventory records for Radford Co.reflected the following
 
-Determine the amount of ending inventory assuming the FIFO cost flow method.
A)$480 
B)$440 
C)$400 
D)$940

Quizplus · Accepted Answer

The FIFO (First-In, First-Out) method assumes that the oldest inventory items are sold first. Therefore, the ending inventory is valued at the most recent purchase costs.

Use the Following Information for Questions