Question
Sheridan uses the periodic inventory system. For the current month, the beginning inventory consisted of 7400 units that cost $11 each. During the month, the
Sheridan uses the periodic inventory system. For the current month, the beginning inventory consisted of 7400 units that cost $11 each. During the month, the company made two purchases: 3100 units at $12 each and 12100 units at $12.50 each. Sheridan also sold 13000 units during the month. What is the ending inventory if the LIFO method is used?
O $105600
$114624
O $120000
$107800
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Accounting What The Numbers Mean
Authors: David H. Marshall, Wayne William Mcmanus, Daniel Marshall Viele, Mcmanus Marshall, Daniel F. Viele
10th Edition
1259060705, 978-1259060700
