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Asrar Bros. maintains continuous inventory records using LIFO method and provided you following data: Jan 1 - Inventory 20 units @ $20 Jan 4 Purchase
Asrar Bros. maintains continuous inventory records using LIFO method and provided you following data:
Jan 1 - Inventory | 20 units @ $20 | |
Jan 4 Purchase | 70 units @ $22 | |
Jan 8 Sale | 40 units | |
Jan 18 Purchase | 80 units @ $24 | |
Jan 22 Sale | 70 units | |
Jan 25 Purchase | 30 units @ $26 |
The value of ending inventory is (chaose 1)
- A. $2,080
- B. $1,940
- C. $2,140
- D. $2,220
- E. $2,040
- F. $2,180
- G. $1,980
- H. $2,120
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