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LO3. In March, Holly Company had the following transactions affecting inventory during March. March 1 Beg. Balance 500 units @ $10.00 March 5 Sale
LO3. In March, Holly Company had the following transactions affecting inventory during March. March 1 Beg. Balance 500 units @ $10.00 March 5 Sale 300 units March 10 Purchase 300 units @ $11.00 March 20 Sale March 30 Purchase 350 units 200 units @ $12.00 Compute cost of ending inventory on March 31st under Perpetual Inventory System using LIFO assumption. a) $3,900 b) $3,990 c) $4,050 d) $3.500 e) $3,745
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