Question
Sassy Saxophones has the following inventory data: July1 Beginning inventory 43 units at $103 5 Purchases 258 units at $96 14 Sale 172 units 21
Sassy Saxophones has the following inventory data:
July1 Beginning inventory 43 units at $103
5 Purchases 258 units at $96
14 Sale 172 units
21 Purchases 129 units at $99
30 Sale 120 units
Assuming that a periodic inventory system is used, what is the amount allocated to ending inventory on a LIFO basis?
$28419
$13549
$13635
$28333
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Cornerstones of Financial Accounting
Authors: Jay Rich, Jeff Jones
4th edition
978-1337690881, 9781337669450, 1337690880, 1337690899, 1337669458, 978-1337690898
