Answer:
The question is missing below:
Eneri Company's inventory records show the following data:
Units Unit Cost
Inventory, January 1 10,000 $9.20
Purchases: June 8 9,000 $8.00
November 8 6,000 $7.00
Under FIFO method,the December 31 inventory is valued at $28,000
Explanation:
Under FIFO first-in first out ,the understanding is that inventory bought first is the first to be sold,hence the closing inventory is to be valuated at the price of the last purchase since the last purchase units is more than closing inventory.
As a result, the 4,000 closing inventory is to be valued at $7 each,which gives $28,000($7*4000).
