Question
The hospital controller was reviewing the most current monthly supply expense for the month of December. She noticed that supply expense seemed extremely high compared
The hospital controller was reviewing the most current monthly supply expense for the month of December. She noticed that supply expense seemed extremely high compared to historical trends. Assuming that the hospital applies the LIFO method for costing inventory answer the following:
| Activity | Units | Price per Unit | ||||
|---|---|---|---|---|---|---|
| Beginning Balance 12/1/18 | 500 | 12 | ||||
| December 7, Purchases | 300 | 14 | ||||
| December 9, Purchases | 800 | 15 | ||||
| December 19, Purchases | 200 | 16 | ||||
| December 25, Purchases | 200 | 18 | ||||
| Ending Inventory 12/31/18 | 800 | ? |
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Cost Managerial Accounting By Gleim Exam Questions And Explanations
Authors: Gleim
8th Edition
1581945663, 978-1581945669
