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Niles Co. has the following data related to an item of inventory: Inventory, March 1 100 units @ $4.20 Purchase, March 7 350 units @
Niles Co. has the following data related to an item of inventory:
Inventory, March 1 100 units @ $4.20
Purchase, March 7 350 units @ $4.40
Purchase, March 16 70 units @ $4.50
Inventory, March 31 130 units
The value assigned to ending inventory if Niles uses FIFO is
a. $579.
b. $552.
c. $1,723.
d. $1,696.
The value assigned to ending inventory if Niles uses LIFO is
a. $579.
b. $552.
c. $546.
d. $585.
Niles Co. has the following data related to an item of inventory:
Inventory, March 1 100 units @ $4.20
Purchase, March 7 350 units @ $4.40
Purchase, March 16 70 units @ $4.50
Inventory, March 31 130 units
The value assigned to ending inventory if Niles uses FIFO is
a. $579.
b. $552.
c. $1,723.
d. $1,696.
The value assigned to ending inventory if Niles uses LIFO is
a. $579.
b. $552.
c. $546.
d. $585.
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