Question
1.) The following information pertains to Julia & Company: March 1 Beginning inventory = 30 units @ $5 March 3 Purchased 15 units @ $4
1.) The following information pertains to Julia & Company:
March 1 Beginning inventory = 30 units @ $5
March 3 Purchased 15 units @ $4
March 9 Sold 25 units @ $8
What is the ending inventory balance for Julia & Company assuming that it uses LIFO?
What is the ending inventory balance for Julia & Company assuming that it uses FIFO?
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Fundamental Financial Accounting Concepts
Authors: Thomas Edmonds
7th Edition
73527122, 978-0073527123
