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Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.10 each. During the period, the company purchased inventory items as follows.

Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.10 each. During the period, the company purchased inventory items as follows. Glasgow sold 285 units after purchase 3 for $10.40 each.

Purchase Number of Items Cost
1 260 $ 2.60
2 180 $ 2.70
3 50 $ 3.10

If the company uses the LIFO cost flow method, Glasgow's ending inventory would be:

Multiple Choice

  • $557.

  • $716.

  • $822.

  • $659.

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