Question
Sunland Company has the following data related to an item of inventory: Inventory, March 1 440 units @ $1.90 Purchase, March 7 1430 units @
Sunland Company has the following data related to an item of inventory:
Inventory, March 1 440 units @ $1.90
Purchase, March 7 1430 units @ $2.00
Purchase, March 16 300 units @ $2.30
Inventory, March 31 570 units
How would I calculate the value assigned to ending inventory if Sunland uses LIFO?
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Advanced Accounting
Authors: Debra JeterJames Reeve, Jonathan Duchac, Horace Brock, Paul Chaney
4th Edition
0470506989, 978-0470506981
