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Metlock, Inc. just began business and made the following four inventory purchases in June: June 1 144 units $1008 June 10 192 units 1536 June
Metlock, Inc. just began business and made the following four inventory purchases in June:
June 1 | 144 units | $1008 | ||
June 10 | 192 units | 1536 | ||
June 15 | 192 units | 1728 | ||
June 28 | 144 units | 1440 | ||
$5712 |
A physical count of merchandise inventory on June 30 reveals that there are 192 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is
$1392.
$1344.
$1872.
$1920.
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