Question
As of January 1, 2012, Nabisco Corporation had 100 units in inventory at $25 each. It purchased 200 units at $28 each during the year.
As of January 1, 2012, Nabisco Corporation had 100 units in inventory at $25 each. It purchased 200 units at $28 each during the year. A total of 250 units were sold at $45 during the year. Using LIFO, the inventory balance of December 31, 2012 was:
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Accounting What The Numbers Mean
Authors: David Marshall, Wayne McManus, Daniel Viele
8th Edition
0073379417, 978-0073379418
