Question
During the month of September 2015, Emily Company had the following information regarding the buying and selling of its inventory. Sept. 1 Beginning inventory of
During the month of September 2015, Emily Company had the following information regarding the buying and selling of its inventory.
Sept. | 1 | Beginning inventory of 350 units @ $120 per unit. | |
8 | Purchased 425 units @ $130 per unit. | ||
12 | Sold 260 units. | ||
17 | Sold 140 units. | ||
23 | Purchased 100 units @ $150 per unit. | ||
25 | Purchased 150 units @ $160 per unit. | ||
30 | Sold 100 units. |
Compute the value of the ending inventory at the end of September under the LIFO perpetual cost flow assumption. (Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.)
Date | Number of Units | Cost/Unit | Total | |||
Sept. 1Sept. 8Sept. 12Sept. 17Sept. 23Sept. 25Sept. 30 | $ | $ | ||||
Sept. 1Sept. 8Sept. 12Sept. 17Sept. 23Sept. 25Sept. 30 | ||||||
Sept. 1Sept. 8Sept. 12Sept. 17Sept. 23Sept. 25Sept. 30 | ||||||
Sept. 1Sept. 8Sept. 12Sept. 17Sept. 23Sept. 25Sept. 30 | ||||||
Ending Inventory | $ |
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