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Concord Corporation uses a periodic inventory system. Details for the inventory account for the month of January 2022 are as follows: units Per unit price
Concord Corporation uses a periodic inventory system. Details for the inventory account for the month of January 2022 are as follows:
units Per unit price Total
Balance, 1/1/2022 240 4.00 $960
Purchase, 1/15/2022 120 ..4.20 $504
Purchase, 1/28/2022 120 ..4.40 $528
An end-of-the-month (1/31/2022) inventory showed that 190 units were on hand. If the company uses LIFO, what is the value of the ending inventory?
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