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Crane Company uses a periodic inventory system. Details for the inventory account for the month of January, 2020 are as follows: Units Per Unit Price
Crane Company uses a periodic inventory system. Details for the inventory account for the month of January, 2020 are as follows:
Units | Per Unit Price | Total | |
Balance, 1/1/20 | 210 | $4 | $840 |
Purchase, 1/15/20 | 70 | 5.1 | 357 |
Purchase, 1/28/20 | 70 | 5.3 | 371 |
An end of the month (1/31/20) inventory showed that 160 units were on hand. If the company uses LIFO, what is the value of the ending inventory?
$816
$830
$654
$640
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