The following lots of Commodity Z were available for sale during the year. Beginning Inventory 8 units at $50 First purchase 16 units at $51 Second purchase 51 units at $58 Third purchase 19 units at $59 The firm uses the periodic system, and there are 22 units of the commodity on hand at the end of the year. What is the ending inventory balance at the end of the year according to the LIFO method? Oa. 51,114 Ob. 95.293 Oc. $1,100 d. $1.295 ha Some for keAssignmentSessionLocator=&inprogress=false The following lots of Commodity Z were available for sale during the year. Beginning inventory 12 units at $52 First purchase 15 units at $51 Second purchase 21 units at $59 Third purchase 17 units at $64 The firm uses the periodic system, and there are 22 units of the commodity on hand at the end of the year. What is the ending inventory balance at the end of the year according to the FIFO method? Oa. 53,094 Ob. 53.716 Oc. $1,363 Od. 51.144 Previous Next >