Question
A company's inventory records indicate the following data for the month of January: Date Activities Units Acquired at Cost Units Sold at Retail January 1
A company's inventory records indicate the following data for the month of January:
| Date | Activities | Units Acquired at Cost | Units Sold at Retail |
| January 1 | Beginning inventory | 180 units @ $9 = $1,620 |
|
| January 5 | Purchase | 170 units @ $10 = $1,700 |
|
| January 9 | Sale |
| 300 units @ $35 |
| January 14 | Purchase | 200 units @ $11 = $2,200 |
|
| January 20 | Sale |
| 150 units @ $35 |
| January 30 | Purchase | 230 units @ $12 = $2,760 |
|
If the company uses the LIFO perpetual inventory system, what would be the cost of the ending inventory?
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Fundamentals of Financial Management
Authors: Eugene F. Brigham
Concise 9th Edition
1305635937, 1305635930, 978-1305635937
