Question
A company had the following purchases during the current year: January: 10 units at $120 February: 20 units at $125 May: 15 units at $130
A company had the following purchases during the current year:
| January: | 10 units at $120 |
| February: | 20 units at $125 |
| May: | 15 units at $130 |
| September: | 12 units at $135 |
| November: | 10 units at $140 |
On December 31, there were 26 units remaining in ending inventory. Using the LIFO inventory valuation method, what is the cost of the ending inventory?
$3,280.
$3,200.
$3,445.
$3,540.
$3,640.
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Wiley CIA Exam Review Test Bank Part 1 Essentials Of Internal Auditing
Authors: S. Rao Vallabhaneni
1st Edition
1119987237, 978-1119987239
