Question
Cat Paw Company just began business and made the following four inventory purchases in June: June 1 100 units 1,000 June 10 100 units 1,250
Cat Paw Company just began business and made the following four inventory purchases in June:
June 1 100 units 1,000 June 10 100 units 1,250 June 15 100 units 1,500 June 28 100 units 1,750 $5,500 A physical count of merchandise inventory on June 30 reveals that there are100 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is
|
| $1,000 |
|
| $1,750 |
|
| $1,375 |
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Financial Accounting Fundamentals
Authors: John J. Wild
8th Edition
1260728609, 9781260728606
