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Austin Company uses apepetual inventory system. Assume the following data for 2016: Beginning inventory 10 units at $7 each March 18 purchase 15 units at
Austin Company uses apepetual inventory system. Assume the following data for 2016:
Beginning inventory 10 units at $7 each
March 18 purchase 15 units at $9 each
June 10sale 20 units at $10 each
October 30 purchase 12 units at $11 each
December 31 inventory balance 17 units
Under the LIFO method, the Costs of Goods Sold would be valued at:
a) $160
b) $167
c) $170
d) $177
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