Question
Beginning inventory 150 units @ $755 Sale 120 units First Purchase 400 units @ $785 Sale 200 units Second Purchase 300 units @ $805 Sale
Beginning inventory 150 units @ $755
Sale 120 units
First Purchase 400 units @ $785
Sale 200 units
Second Purchase 300 units @ $805
Sale 290 units
The firm uses perpetual inventory and there are 240 units of the item on hand at the end of the year. What is the total cost of ending inventory according to LIFO? show work
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Accounting Principles
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
IFRS global edition
1-119-41959-4, 470534796, 9780470534793, 9781119419594 , 978-1119419617
