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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Portey Co. Portey uses a perpetual inventory system and had the following inventory transactions for the month of June. June 1 On hand, 50 units at $18.00 each $ 900.00 4 Purchased 115 units at $18.20 each 2,093.00 5 Sold 100 units 10 Purchased 75 units at $18.25 each 1,368.75 24 Sold 40 units Total cost of goods available for sale $4,361.75 30 On hand, 100 units Refer to the information provided for Portey. If Portey uses the FIFO inventory costing method, the amount of ending inventory reported on the balance sheet is:
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