Question
Lancaster Corp. uses the periodic inventory system. During its first year of operations, Lancaster made the following purchases (listed in chronological order of acquisition): 47
Lancaster Corp. uses the periodic inventory system. During its first year of operations, Lancaster made the following purchases (listed in chronological order of acquisition):
- 47 units at $15
- 76 units at $15
- 174 units at $21
Sales for the year totaled 237 units.
Ending inventory using the FIFO method is: (Show your answer in total dollars of ending inventory)
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077400163
