Question
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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Introduction to Managerial Accounting
Authors: Peter C. Brewer, Ray H Garrison, Eric Noreen
8th edition
1259917061, 978-1259917066
