Ending Inventory Under FIFO Method
Brandon's Bike Shop began selling a new bicycle model in June. The details of the shop's inventory purchases are presented in the table below:
| Date | Number | Cost per bike | |
|---|---|---|---|
| May 10th | 5 | $800 | |
| May 29th | 10 | $900 | |
| June 14th | 15 | $600 |
If twenty bicycles were sold during the month of June, what is the value of the ending inventory under the first-in, first-out (FIFO) method?
A$6,000
B$7,333
C$8,500
D$9,000