Question
Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,200 gallons @ $7.6 per gallon = $9,120 Purchases: Sales: Mar. 10 640
Inventory records for Herb's Chemicals revealed the following:
March 1, 2021, inventory: 1,200 gallons @ $7.6 per gallon = $9,120
| Purchases: | Sales: | ||||||||
| Mar. 10 | 640 | gals | @ | $ | 7.65 | Mar. 5 | 440 | gals | |
| Mar. 16 | 840 | gals | @ | $ | 7.70 | Mar. 14 | 740 | gals | |
| Mar. 23 | 640 | gals | @ | $ | 7.75 | Mar. 20 | 540 | gals | |
| Mar. 26 | 740 | gals | |||||||
Ending inventory assuming LIFO in a perpetual inventory system would be:
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Forensic Accounting And Financial Statement Fraud Forensic Accounting Performance
Authors: Zabihollah Rezaee
1st Edition
1949991075, 978-1949991079
