Question
A company has the following purchases and sales during the first year of operations: Purchases Sales January 40 Units at $220 24 units February 30
A company has the following purchases and sales during the first year of operations:
Purchases Sales
January 40 Units at $220 24 units
February 30 Units at $225 25 units
May 35 units at $230 29 units
September 32 units at $235 30 units
November 30 units at $240 31 units
On December 31, there were 32 units remaining in ending inventory. Using the Perpetual LIFO inventory valuation method, what is the cost of ending inventory? (Assume all sales were made on the last day of the month)
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Cost Accounting Planning And Control
Authors: Adolph Matz, Milton F. Usry
10th Edition
0538809256, 978-0538809252
