Question 17

A company just starting business made the following four inventory purchases in June:

Date	Units	Total Price
June 1	150	$ 390
10	200	585
15	200	630
28	150	510
		$ 2,115

A physical count of merchandise inventory on June 30 reveals that there are 250 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is

		$683.
		$825.
		$1,290.
		$1,432.

3 points

Question 18

Inventoriable costs include all of the following except the

		freight costs incurred when buying inventory.
		costs of the purchasing and warehousing departments.
		cost of the beginning inventory.
		cost of goods purchased.