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Mod 18.1: Baseball Company purchased 1 Baseball @ $2, 1 Baseball @ $4, then purchased 8 @ $5 per unit, then sold two baseballs (management
Mod 18.1: Baseball Company purchased 1 Baseball @ $2, 1 Baseball @ $4, then purchased 8 @ $5 per unit, then sold two baseballs (management doesn't know which two were sold), then purchased another 7 baseballs @ $8 per ball. Assuming the Baseball Company uses a perpetually updated inventory system and a Last-In-First-Out (i.e. LIFO) Cost Flow assumption to expense its baseballs upon sale, what will be the Baseball Company's Ending Inventory at the end of the period after all purchases and sales are recorded?
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