Question
Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method. Date Activities Units Acquired at Cost
Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method. Date Activities Units Acquired at Cost Units Sold at Retail June 1 Beginning inventory 15 units @ $34 = $510 June 15 Sale 6 units @ $64 June 29 Purchase 8 units @ $39 = $312 The cost of the ending inventory is: Multiple Choice. a. $510 b. $618 c. $415 d. $402 e. $312
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Accounting And Finance For Non Finance Managers
Authors: Jai Kumar Batra
1st Edition
9352806964, 978-9352806966
