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Inventory records for Marvin Company revealed the following: Date Transaction Mar. 1 Beginning inventory 1,000 Number of Units Unit Cost Total Cost $7.20 $7,200
Inventory records for Marvin Company revealed the following: Date Transaction Mar. 1 Beginning inventory 1,000 Number of Units Unit Cost Total Cost $7.20 $7,200 Mar. 10 Purchase 600 7.25 $4,350 Mar. 16 Purchase 800 7.30 $5,840 Mar. 23 Purchase 600 7.35 $4,410 3,000 $21,800 Marvin sold 2,300 units of inventory during the month. Ending inventory assuming LIFO would be: $5,075 $5,055 $5,040 $5.135
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