Question
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Blumen, Inc., for an operating period. Units Unit
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Blumen, Inc., for an operating period.
|
| Units | Unit Cost |
| Total Cost |
| Units Sold |
| Beginning Inventory | 30 | $14 |
| $ 420 |
|
|
| Sale No. 1 |
|
|
|
|
| 20 |
| Purchase No. 1 | 50 | 20 |
| 1,000 |
|
|
| Sale No. 2 |
|
|
|
|
| 40 |
| Purchase No. 2 | 20 | 22 |
| 440 |
|
|
| Totals | 100 |
|
| $1,860 |
| 72 |
Assuming Blumen, Inc. uses LIFO periodic inventory procedures, the ending inventory cost is:
| A. | $620 | |
| B. | $560 | |
| C. | $880 | |
| D. | $840 |
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Accounting And Audit With Bank Securities Theory Methodology Practice Improvement Of Accounting And Audit Of Operations With Securities Issued By The Bank
Authors: Viktorija Koval'chuk, Igor' Shhurov
1st Edition
620600032X, 978-6206000327
