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Show steps a bit confused on the answers, thanks Question: 1 LIFO (Last-in, First-out) Inventory Valuation - PERIODIC System Activity Unit Cost 6.00 Total Sales
Show steps a bit confused on the answers, thanks
Question: 1 LIFO (Last-in, First-out) Inventory Valuation - PERIODIC System Activity Unit Cost 6.00 Total Sales Cost 12.00 Date Balance B C D Units 2 -2 5 18.00 8.00 40.00 0 0 0 Sale Purchase Sale Purchase -4 36.00 9 4.00 36.00 --- - Total 10 88.00 54.00 === = What is the value of the Ending Inventory? Correct Answer: $64.00 Your Answer: $44.00 Incorrect Answer Question: 2 FIFO (First-in, First-out) Inventory Valuation - PERIODIC System Activity Total Sales Unit Cost 13.00 Cost 117.00 Date Balance A B D 136.50 Units 9 -7 7 -7 4 11.00 Sale Purchase Sale Purchase 77.00 136.50 15.00 60.00 Total 6 6 254.00 273.00 What is the value of the Ending Inventory? Correct Answer: $82.00 Your Answer: $115.00 Incorrect
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