Question
A company's inventory records indicate the following data for the month of January: Jan. 1 Beginning 180 units at $9 each Jan. 5 Purchase 170
A company's inventory records indicate the following data for the month of January:
Jan. 1 | Beginning | 180 units at $9 each |
Jan. 5 | Purchase | 170 units at $10 each |
Jan. 9 | Sale | 300 units at $35 each |
Jan. 14 | Purchase | 200 units at $11 each |
Jan. 20 | Sale | 150 units at $35 each |
Jan. 30 | Purchase | 230 units at $12 each |
If the company uses the LIFO perpetual inventory system, what would be the cost of the ending inventory?
| Purchases | Sales | Balance | ||||||
| Units | Unit cost | Total | Units | Unit cost | Total | Units | Unit cost | Total |
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