Question
Inventory data for an item for November are: Date Description Units and Prices 1-Nov Beg. Inventory 15 units at $10 each 4-Nov Purchased 50
Inventory data for an item for November are: Date Description Units and Prices 1-Nov Beg. Inventory 15 units at $10 each 4-Nov Purchased 50 units at $12 each 15-Nov Sold 45 units for $40 each 17-Nov Purchased 30 units at $15 each 28-Nov Purchased 10 units at $20 each 30-Nov Sold 50 units for $45 each Suppose this company employs a perpetual inventory system using LIFO assumptions. What is the value of ending inventory on November 30th?
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Fundamental Managerial Accounting Concepts
Authors: Edmonds, Tsay, olds
6th Edition
71220720, 78110890, 9780071220729, 978-0078110894
