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Texas Petrochemical reported the following April activity for its VC-30 lubricant, which had a balance of 400 qts. @ $4.40 per quart on April 1.
Texas Petrochemical reported the following April activity for its VC-30 lubricant, which had a balance of 400 qts. @ $4.40 per quart on April 1. Purchases: Apr. 10 Apr. 14 Apr. 20 600 qts @ $4.50 Sales: Apr. 3 400 qts 500 qts @ $4.60 Apr. 12 600 qts 500 qts @ $4.65 Apr. 26 400 qts The ending inventory assuming LIFO and a periodic inventory system is: (Round your final answer to two decimal places.) Multiple Choice $2,660.00. $2,765.00. $2,700.00. $2,770.00
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