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Metlock, Inc. has the following inventory data: July 1 Beginning inventory 27 units at $17 $459 7 Purchases 95 units at $18 1710 22
Metlock, Inc. has the following inventory data: July 1 Beginning inventory 27 units at $17 $459 7 Purchases 95 units at $18 1710 22 Purchases 14 units at $20 280 $2449 A physical count of merchandise inventory on July 30 reveals that there are 43 units on hand. Using the LIFO inventory method, the amount allocated to ending inventory for July is $860. $747. $774. $731.
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