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Bonita has the following inventory data: July 1 Beginning inventory 35 units at $18 $630 7 Purchases 123 units at $18 2214 22 Purchases 18
Bonita has the following inventory data:
July 1 | Beginning inventory | 35 units at $18 | $630 | |||
7 | Purchases | 123 units at $18 | 2214 | |||
22 | Purchases | 18 units at $19 | 342 | |||
$3186 |
A physical count of merchandise inventory on July 30 reveals that there are 44 units on hand. Using the LIFO inventory method, the amount allocated to ending inventory for July is
| $836. |
| $792. |
| $792. |
| $810. |
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