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The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Ramos, Inc. for an operating period. Units Unit
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Ramos, Inc. for an operating period.
| Units | Unit Cost |
| Total Cost |
| Units Sold |
Beginning Inventory | 32 | $72 |
| $2,304 |
|
|
Sale No. 1 |
|
|
|
|
| 10 |
Purchase No. 1 | 28 | 80 |
| 2,240 |
|
|
Sale No. 2 |
|
|
|
|
| 32 |
Purchase No. 2 | 20 | 76 |
| 1,520 |
|
|
Totals | 80 |
|
| $6,064 |
| 42 |
Assuming Ramos, Inc. uses LIFO periodic inventory procedures, the ending inventory cost is:
Select one:
A. $2,360
B. $2,632
C. $2,784
D. $2,888
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