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Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method. June 1 Beginning inventory 14 units
Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method.
| June 1 | Beginning inventory | 14 units at $20 each |
| June 15 | Sale of 6 units for $50 each | |
| June 29 | Purchase | 6 units at $25 each |
The cost of the ending inventory is:
Multiple Choice
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$310
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$350
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$150
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$280
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$120
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Financial Accounting
Authors: Jane L. Reimers
1st Edition
0131492012, 978-0131492011
