Question
Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method. June 1 Beginning inventory 46 units
Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method.
June 1 Beginning inventory 46 units at $20 each
June 15 Sale of 38 units for $50 each
June 29 Purchase 38 units at $25 each
The cost of the ending inventory is: Select one:
a. $1150
b. $1110
c. $950
d. $920
e. $760
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Treasury Financial Manual Volume 1 Book 2
Authors: US Treasury
1st Edition
1790318432, 978-1790318438
