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Shoot-em Dead Ammunition Supplies Company uses the periodic inventory method for tracking their inventory of armor-piercing bullets and had the following inventory information available:+ Cases
Shoot-em Dead Ammunition Supplies Company uses the periodic inventory method for tracking their inventory of armor-piercing bullets and had the following inventory information available:+ Cases Cost per case Total Cost 1/1 1/20 Beginning Inventory 100 $4.50 $---450+ Purchase 400 $5.00 2,000+ 7/25 Purchase 10/20 200 $7.40 1.480+ Purchase ---300 $8.00 --2,400+ 1.000 $6.330+ + A physical count of inventory on December 31 revealed that there were 400 boxes on hand.+ Instructions+ Answer the following independent questions and show computations supporting your answers. < Assume that the company uses the LIFO method. The value of the ending inventory on December 31 is $
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