Question
Multiple Choice Question 66 Vaughn Manufacturing just began business and made the following four inventory purchases in June: June 1 160 units $1040 June 10
Multiple Choice Question 66
Vaughn Manufacturing just began business and made the following four inventory purchases in June:
June 1 160 units $1040 June 10 210 units 1533 June 15 210 units 1659 June 28 160 units 1328 $5560
A physical count of merchandise inventory on June 30 reveals that there are 220 units on hand. Using the LIFO inventory method, the value of the ending inventory (rounded to whole dollar) on June 30 is
$1826.
$1802.
$1430.
$1478.
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Daniel G. Short
3rd Edition
0072458836, 978-0072458831
