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Given the following data, calculate the cost of ending inventory using the LIFO costing method. (Be sure to show your work.) Date Item Unit 1/1

Given the following data, calculate the cost of ending inventory using the LIFO costing method. (Be sure to show your work.)

Date Item Unit
1/1 Beginning Inventory 30 units at $10 per unit
2/25 Purchase of Inventory 15 units at $12 per unit
5/20 Purchase of Inventory 25 units at $13 per unit
8/15 Purchase of Inventory 20 units at $14 per unit
10/17 Purchase of Inventory 25 units at $15 per unit
12/31 Ending Inventory 65 units

A) $915

B) $740

C) $720

D) $545

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