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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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