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Rally Wheels, Inc. had the following balances and transactions during 2018: Beginning Merchandise Inventory as of January 1, 2018 150150 units at $ 74$74 March
Rally Wheels, Inc. had the following balances and transactions during 2018:
Beginning Merchandise Inventory as of January 1, 2018 | 150150 units at $ 74$74 |
March 10 | Sold 5050 units |
June 10 | Purchased 450450 units at $ 77$77 |
October 30 | Sold 150150 units |
What would the company's ending merchandise inventory cost be on December 31, 2018 if the perpetual inventory system and the
lastminusin,
firstminusout
inventory costing method are used?
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