Question
A company just starting business made the following four inventory purchases in June: June 1 140 units $380 June 10 230 units 575 June 15
A company just starting business made the following four inventory purchases in June:
| June 1 | 140 units | $380 |
| June 10 | 230 units | 575 |
| June 15 | 230 units | 630 |
| June 28 | 170 units | 550 |
| $2135 |
A physical count of merchandise inventory on June 30 reveals that there are 180 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is
$1475.
$660.
$1655.
$480.
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Money And Wealth
Authors: Joslyn Pine
1st Edition
0486486389, 9780486486383
