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Strods Company reported the following purchases and sales of its only product. Strods uses a periodic Inventory system. Determine the cost assigned to ending Inventory

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Strods Company reported the following purchases and sales of its only product. Strods uses a periodic Inventory system. Determine the cost assigned to ending Inventory using LIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 260 units @ $11 5 Purchase 275 units @ $13 Sales 195 units @ $21 Purchase 155 units @ $14 Sales 145 units @ $22 Multiple Choice

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