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 perpetual LIFO cost flow assumption, ending inventory for April would be
| a. | $ 750 |
| b. | $2,560 |
| c. | $ 500 |
| d. | $2,310 |
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Internal Auditing An Integrated Approach
Authors: Richard Cascarino
3rd Edition
1485110599, 978-1485110590
