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Texas Petrochemical reported the following April activity for its VC-30 lubricant, which had a balance of 325 qts @ $2.90 per quart on April 1.
Texas Petrochemical reported the following April activity for its VC-30 lubricant, which had a balance of 325 qts @ $2.90 per quart on April 1. Purchases: Apr. 10 Apr. 14 Apr. 20 525 gts @ $3.00 425 qts @ $3.10 425 qts@ $3.15 Sales: Apr. 3 Apr. 12 Apr. 26 250 qts 525 gts 325 qts The ending inventory assuming LIFO and a periodic inventory system is (Round your final answer to two decimal places.) Multiple Choice $176750 $1.807.50 5187250 $187750
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