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Inventory information for Part 311 of Kingbird Corp. discloses the following information for the month of June. June 1 Balance 440 units @ $6 June
Inventory information for Part 311 of Kingbird Corp. discloses the following information for the month of June. June 1 Balance 440 units @ $6 June 10 Sold 340 units @ $18 11 Purchased 1,040 units @ $7 15 Sold 600 units @ $19 20 Purchased 600 units @ $9 27 Sold 400 units @ $21 Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory at LIFO? The ending inventory at LIFO
Inventory information for Part 311 of Kingbird Corp. discloses the following information for the month of June.
June 1
Balance
440 units @ $6
June 10
Sold
340 units @ $18
11
Purchased
1,040 units @ $7
15
Sold
600 units @ $19
20
Purchased
600 units @ $9
27
Sold
400 units @ $21
Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory at LIFO?
The ending inventory at LIFO
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Accounting Principles Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
8th Canadian Edition
978-1119502425
