Question 6

Pharoah Company uses a periodic inventory system. Details for the inventory account for the month of January 2017 are as follows: Per unit price Units Total $2220 Balance, 1/1/2017 370 $6.0 Purchase, 1/15/2017 190 7 1254 190 1292 Purchase, 1/28/2017 7 An end of the month (1/31/2017) inventory showed that 300 units were on hand. If the company uses LIFO, what is the value of the ending inventory? $1800 $2018 $2966 $1940