Question
Niles Co. has the following data related to an item of inventory: Inventory, March 1 400 units @ $2.10 Purchase, March 7 1,400 units @
Niles Co. has the following data related to an item of inventory:
Inventory, March 1 400 units @ $2.10
Purchase, March 7 1,400 units @ $2.20
Purchase, March 16 280 units @ $2.25
Inventory, March 31 520 units
The $ value assigned to ending inventory if Niles uses LIFO is
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Financial Accounting Tools For Business Decision Making
Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt
8th Edition
1119316022, 978-1119316022
