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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 480
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 | 480 | $2,050 |
6/6 | Purchase | 890 | $4,150 |
9/10 | Purchase | 1,310 | $5,650 |
11/15 | Purchase | 970 | $5,350 |
During the year, RJ sold 3,380 units. |
What was ending inventory using the LIFO cost flow assumption under a periodic inventory system? |
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