Question
Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,450 gallons @ $8.1 per gallon = $11,745 Purchases: Sales: Mar. 10 690
Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,450 gallons @ $8.1 per gallon = $11,745 Purchases: Sales: Mar. 10 690 gals @ $ 8.15 Mar. 5 490 gals Mar. 16 890 gals @ $ 8.20 Mar. 14 790 gals Mar. 23 690 gals @ $ 8.25 Mar. 20 590 gals Mar. 26 790 gals Ending inventory assuming LIFO in a perpetual inventory system would be:
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Expert Systems In Auditing
Authors: J C Van Dijk, Paul Williams, Michael P. Cangemi
1st Edition
1349124761, 978-1349124763
