Question
A company's inventory records indicate the following data for the month of January Date January 1 January 8 Activities Beginning inventory Purchase January 12
A company's inventory records indicate the following data for the month of January Date January 1 January 8 Activities Beginning inventory Purchase January 12 Sale January 17 Purchase January 23 Sale Purchase January 28 Unita Acquired at Cost 400 units $18-$7,200 380 units $20 $7,600 440 units $22 $9,680 500 units $24 $12,000 Units Sold at Retail 680 units $70 320 units $70 If the company uses the LIFO perpetual inventory system, what would be the cost of the ending inventory?
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Hospitality Financial Accounting
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Agnes L.
2nd Edition
9780470598092, 470083603, 978-0470083604
