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RJ Corporation has provided the following information about one of its inventory items: Date Transaction Number of Units Cost per Unit 1/1 Beginning Inventory 605
RJ Corporation has provided the following information about one of its inventory items: |
Date | Transaction | Number of Units | Cost per Unit |
1/1 | Beginning Inventory | 605 | $2,300 |
6/6 | Purchase | 865 | $4,025 |
9/10 | Purchase | 1,285 | $5,275 |
11/15 | Purchase | 920 | $5,600 |
During the year, RJ sold 3,280 units. |
What was ending inventory using the LIFO cost flow assumption under a periodic inventory system? |
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