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Audrey Company uses the LIFO retail inventory method and reports the following information: Cost Retail Beginning inventory $ 540 $ 900 Net markups 1,000 Sales
Audrey Company uses the LIFO retail inventory method and reports the following information:
| Cost | Retail | |
| Beginning inventory | $ 540 | $ 900 |
| Net markups | 1,000 | |
| Sales | 4,500 | |
| Net markdowns | 500 | |
| Purchases | 3,150 | 4,000 |
What is the cost of ending inventory for Audrey Company?
$630
$540
$615
$562
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