Question
Consider the following information for this question: September 1 Inventory 10 @ $2.00 8 Purchased 40 @ $2.20 17 Purchased 20 @ $2.10 25 Purchased
Consider the following information for this question:
September 1 Inventory 10 @ $2.00
8 Purchased 40 @ $2.20
17 Purchased 20 @ $2.10
25 Purchased 30 @ $2.40
Units Sold: 70
ENDING INVENTORY (NOT Cost of Goods Sold) under LIFO method is (assume a periodic inventory system):
| a. $222.00. | ||
| b. $150.00. | ||
| c. $154.00. | ||
| d. $64.00. |
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Financial accounting
Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom
9th edition
978-0132751216, 132751127, 132751216, 978-0132751124
