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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
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$557.
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$716.
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$822.
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$659.
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