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Alpha Furniture purchases cabinets from local suppliers and sells them to customers through its nationwide showrooms. Calculate the value of Ending Inventory under LIFO method.
Alpha Furniture purchases cabinets from local suppliers and sells them to customers through its nationwide showrooms. Calculate the value of Ending Inventory under LIFO method. On March 1 2016, Alpha Furniture had opening inventory of 45 cabinets with a cost of $450 each. During the month of March 2016, the following purchases were made 3rd March 35 cabinets @ $440 each 14th March 25 cabinets @ $460 each 22nd March 55 cabinets @ $430 each 28th March 50 cabinets a 445 each During the month of March 2016, 160 cabinets were sold to the customers, O $22250 O $22450 $20250 $50
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