In a periodic inventory system,the ending FIFO inventory is

A) $1,624.
B) $1,655.
C) $1,678.
D) $1,733.

FIFO Inventory

A method of inventory valuation where the first items placed into inventory are the first ones sold; stands for First-In, First-Out.

Periodic Inventory

An inventory accounting system where inventory counts and cost of goods sold (COGS) are determined at the end of an accounting period.

Inventory Balance

The total value of a company's inventory at the end of an accounting period, comprising raw materials, work-in-progress, and finished goods.