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Klump Co. Klump Co. uses a perpetual inventory system and had the following inventory transactions for the month of June. June 1 On hand, 50
Klump Co. Klump Co. uses a perpetual inventory system and had the following inventory transactions for the month of June.
June | 1 | On hand, 50 units at $18.00 each | $ 900.00 | |
4 | Purchased 115 units at $18.20 each | 2,093.00 | ||
5 | Sold 100 units | |||
10 | Purchased 75 units at $18.25 each | 1,368.75 | ||
24 | Sold 50 units | |||
Total cost of goods available for sale | $4,361.75 | |||
30 | On hand, 90 units | |||
Refer to the information provided for Klump Co. If the company uses the LIFO inventory costing method, ending inventory at June 30th is:
Question 16 options:
$1,823.25 |
$1,811.75 |
$1,629.25 |
$1,806.25 |
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