Question
Beginning Inventory on July 1st, 2014 300 units @ $1.00 Purchase on July 4th, 2014 1,000 units @ $1.10 Sales on July 9th, 2014 1,250
| Beginning Inventory on July 1st, 2014 | 300 units @ $1.00 |
| Purchase on July 4th, 2014 | 1,000 units @ $1.10 |
| Sales on July 9th, 2014 | 1,250 units @ $2.00 |
| Purchase on July 15th, 2014 | 500 units @ $1.16 |
| Sales on July 19th, 2014 | 450 units @ $2.00 |
23. Ending Inventory determined using perpetual LIFO would be: a. $116 b. $110 c. $108
d. $100
Can someone explain why the answer is C?
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Accounting Chapters 1-13
Authors: Carl Warren
27th Edition
1337272108, 978-1337272100
