Financial Reporting and Analysis Q228

0. Jackson Enterprises uses the FIFO inventory valuation method. The company bought 400 generators at a price of $300 each on January 5, 2012. 300 of these generators were sold off at a price of $450 each by the end of March, 2012. On April 10, 2012, 250 more generators were bought at a price of $325 each. By May 31, 2012, 225 generators were further sold off at a price of $500 each. What would be the inventory value on June 1, 2012 for the company?

Answer
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Option : B
Explanation :

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