Question
Castle TV, inc. purchased 3,000 monitors on January 5 at a per-unit cost of $238, and another 3,000 units on January 31 at a per-unit
Castle TV, inc. purchased 3,000 monitors on January 5 at a per-unit cost of $238, and another 3,000 units on January 31 at a per-unit cost of $310. In the period from February 1 through year-end, the company sold 5,450 units of this product. At year-end, 550 units remained in inventory.
Assume that Castle TV, Inc. uses the LIFO flow assumption. The cost of the 550 units in the year-end inventory is?
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Cost Accounting Principles And Applications
Authors: Horace R. Brock, Linda Herrington
6th Edition
0028034287, 978-0028034287
