Question
Assume that Wally World uses a perpetual LIFO inventory system. Its ending inventory consists of 13 units. Calculate the dollar value of its ending inventory.
Assume that Wally World uses a perpetual LIFO inventory system. Its ending inventory consists of 13 units. Calculate the dollar value of its ending inventory.
| Jan 1 | Beginning Inventory | 10 @ $12 |
| Jan 5 | Purchase | 10 @ $15 |
| Jan 30 | Purchase | 10 @ $18 |
| Feb 8 | Sale | 17 units |
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Cost Accounting For Managerial Planning Decision Making And Control
Authors: Andrew Schiff, Hsihui Chang, Woody M Liao, James L Boockholdt
5th Edition
0759340412, 978-0759340411
