Question
Sylvia's Designs Co. had the following inventory activity during April: Units Unit Cost Beginning inventory 100 $10 Purchase (April 3) 50 12 Sale (April 10)
Sylvia's Designs Co. had the following inventory activity during April:
|
|
Units | Unit Cost |
| Beginning inventory | 100 | $10 |
| Purchase (April 3) | 50 | 12 |
| Sale (April 10) | 80 |
|
| Purchase (April 18) | 40 | 14 |
| Purchase (April 23) | 60 | 15 |
| Sale (April 28) | 120 |
|
Assuming Sylvia's uses a PERIODIC LIFO cost flow assumption, ending inventory for April would be
| a. | $2,560 |
| b. | $ 750 |
| c. | $2,310 |
| d. | $ 500 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Crash Course Medical Research Audit And Teaching The Essentials For Career Success
Authors: Amit Kaura MSc BSc MB ChB MRCP AFHEA AMInstLM, Darrel Francis, Shreelata T Datta MD MRCOG LLM MBBS BSc, Philip Xiu MA MB BChir MRCP MRCGP MScClinEd FHEA MAcadMEd RCPathME
2nd Edition
0702073784, 978-0702073786
