Question
A record of transactions for the month of May was as follows: Purchases Sales May 1 (balance) 4 400 @ $5.50 1,330 @ $5.40 May
A record of transactions for the month of May was as follows: Purchases Sales May 1 (balance) 4 400 @ $5.50 1,330 @ $5.40 May 3 200 @ $7.00 6 1,100 @ 7.00 % 22 8 820 @ $5.60 12 920 @ 7.50 14 720 @ $5.70 18 430 @ 7.50 22 1,250 @ $5.80 25 1,400 @ 8.00 29 550 @ $5.70 Assuming that perpetual inventory records are kept in dollars, determine the ending inventory using LIFO. Ending inventory $
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Principles Of Fraud Examination
Authors: Joseph T Wells
2nd Edition
0470128836, 9780470128831
