Question
16. JB Adams Inc. had the following purchase transactions in May Date of Purchase Number of Units Cost per Unit Total Cost May 5 500
16. JB Adams Inc. had the following purchase transactions in May
| Date of Purchase | Number of Units | Cost per Unit | Total Cost |
| May 5 | 500 | $4 | $2,000 |
| May 10 | 700 | $6 | $4,200 |
| May 15 | 400 | $4.50 | 1,800 |
Adams sells 1,200 units on May 20 and uses the LIFO method of inventory costing. What is Adams' Ending Inventory?
Group of answer choices
a. 1,600
b. 6,200
c. 1,800
d. 2,000
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Financial Reporting And Analysis Using Financial Accounting Information
Authors: Charles H Gibson
12th Edition
1439080607, 978-1439080603
