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Lion Co. has the following data related to an item of inventory: Inventory, March 1 200 units @ $4.20 Purchase, March 7 700 units @
Lion Co. has the following data related to an item of inventory: Inventory, March 1 200 units @ $4.20 Purchase, March 7 700 units @ $4.40 Purchase, March 16 140 units @ $4.50 Inventory, March 31 300 units The value assigned to ending inventory if Lion uses LIFO is A. $1,334. B. $1,280. C. $1,260. D. $1,350.
Lion Co. has the following data related to an item of inventory:
Inventory, March 1 200 units @ $4.20
Purchase, March 7 700 units @ $4.40
Purchase, March 16 140 units @ $4.50
Inventory, March 31 300 units
The value assigned to ending inventory if Lion uses LIFO is
A.
$1,334.
B.
$1,280.
C.
$1,260.
D.
$1,350.
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
9th Canadian Edition, Volume 2
470964731, 978-0470964736, 978-0470161012
