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The following units of an inventory item were available for sale during the year: Beginning inventory 5 units at $230 = $1,150 First purchase 20
The following units of an inventory item were available for sale during the year:
Beginning inventory 5 units at $230 = $1,150
First purchase 20 units at $232 = $4,640
Second purchase 25 units at $234 = $5,850
Third purchase 5 units at $235 = $1,175
Available for sale 55 $12,815
The company uses the periodic inventory system. There are 15 units in the physical inventory at the end of the year. The value of ending inventory using LIFO is
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