A company just starting business made the following four inventory purchases in June:

Date	Number of units purchased	Total cost
June 1	110 units	$ 440
June 10	160 units	600
June 15	160 units	700
June 28	190 units	540
		$2280

A physical count of merchandise inventory on June 30 reveals that there are 250 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is

$1153.

$1128.

$1714.

$965.

Question 21 A company just starting business made the following four inventory purchases in June: Date June 1 June 10 June 15 June 28 Number of units purchased 110 units 160 units 160 units 190 units Total cost S 440 600 700 540 $2280 A physical count of merchandise inventory on June 30 reveals that there are 250 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is $1153 $1128. $1714. $965. Question 23 When the physical count of Concord Company inventory had a cost of $4410 at year end and the unadjusted balance in Inventory was $4650, Concord will have to make the following entry: 240 240 4650 Cost of Goods Sold Inventory Cost of Goods Sold Inventory Income Summary Inventory 4650 240 240 Inventory 240 Cost of Goods Sold 240