Select the correct answer from each drop-down menu. Calculate the unit price of the closing inventory and its total cost The company uses the FIFO method
Date Transactions
Jan 09 Beginning Inventory
Purchase
Units Sold Unit Cost ($) Total Cost ($)
700
10
5,000
10.50 5,250
800
?
Jan 18
500
Jan 27
Sale
Jan 31
Closing
400
?
The unit price of the closing inventory is $
and the total cost is $