Question
Inventory records for Dunbar Incorporated revealed the following: Date Transaction Number of Units Unit Cost Apr. 1 Beginning inventory 500 $2.40 Apr. 20 Purchase 400
Inventory records for Dunbar Incorporated revealed the following:
| Date | Transaction | Number of Units | Unit Cost |
| Apr. 1 | Beginning inventory | 500 | $2.40 |
| Apr. 20 | Purchase | 400 | 2.50 |
Dunbar sold 700 units of inventory during the month. Ending inventory assuming LIFO would be:
$480.
$500.
$490.
$470.
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Financial Accounting A Decision Making Approach
Authors: Thomas E. King, Valdean C. Lembke, John H. Smith
2nd Edition
0471328235, 978-0471328230
