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2) Orion Company had a beginning inventory of 150 units with a total cost of $900. During the year purchases were: March 10 500 units
2) Orion Company had a beginning inventory of 150 units with a total cost of $900. During the year purchases were: March 10 500 units at $ 6.5 May 25 750 units at $7 Aug. 20 Nov. 5 880 units at $8 250 units at $ 8.5 Orion uses a periodic inventory system. Sales totalled 2,250 units. Instructions: Determine the ending inventory & cost of goods sold under LIFO. (7)
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Introduction To Management Accounting
Authors: Charles T. Horngren, Gary Sundum, Gary L. Sundem
8th Edition
0134870751, 978-0134870755
