Question
2) A company had inventory on November 1 of 5 units at a cost of $29 each. On November 2, they purchased 19 units at
2) A company had inventory on November 1 of 5 units at a cost of $29 each. On November 2, they purchased 19 units at $31 each. On November 6 they purchased 15 units at $34 each. On November 8, 17 units were sold for $64 each. Using the LIFO perpetual inventory method, what was the value of the inventory on November 8 after the sale?
A. $727
B. $672
C. $684
D. $667
E. $701
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Introduces Quantitative Finance
Authors: Paul Wilmott
2nd edition
470319585, 470319581, 978-0470319581
