Question
Blue Spruce Corp. has the following inventory data: July 1 Beginning inventory 35 units at $22 $770 7 Purchases 128 units a $20 2560 22
Blue Spruce Corp. has the following inventory data:
July 1 Beginning inventory 35 units at $22 $770
7 Purchases 128 units a $20 2560
22 Purchases 17 units at $26 442
=======
$3772
A physical count of merchandise inventory on July 30 reveals that there are56 units on hand. Using the LIFO inventory method, the amount allocated to ending inventory for July is.
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Using Financial Accounting
Authors: Carl S. Warren, Jeff Jones, Amanda Farmer
1st Edition
0357507851, 9780357507858
