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The table below is extracted from the inventory records for the month of august of lamp, Inc. a company which makes custom lamps. quantity price
The table below is extracted from the inventory records for the month of august of lamp, Inc. a company which makes custom lamps.
| quantity | price per lamp | total |
beginning inventory | 110 lamps | $6 | 660 |
aug 7 purchase | 130 lamps | $7 | 910 |
Aug 11 sales | 220 lamps | N/A |
|
aug 17 purchase | 125 lamps | $6.50 | 819 |
Aug 23 sales | 94 lamps | N/A |
|
aug 28 purchase | 34 lamps | $7.50 | 255 |
Using the information above, perpetual LIFO ending inventory is
- $583
- $2,128
- $2,061
- $593
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