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Texas Petrochemical reported the following April activity for its VC-30 lubricant, which had a balance of 370 qts. @ $3.80 per quart on April 1.
Texas Petrochemical reported the following April activity for its VC-30 lubricant, which had a balance of 370 qts. @ $3.80 per quart on April 1. Purchases: Apr. 10 Apr. 14 Apr. 20 570 qts @ $3.90 470 qts @ $4.00 470 qts @ $4.05 Sales: Apr. 3 Apr. 12 Apr. 26 340 qts 570 qts 370 qts The ending inventory assuming LIFO and a periodic inventory system is: (Round your final answer to two decimal places.) Multiple Choice $2,413.00. $2.343.00 $2.408.00 $2,303.00
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