Question
Thelen's inventory records show the following data at January 31: Beginning inventory Jan. 1 100 units at $8 per unit Jan. 10 purchase 320 units
Thelen's inventory records show the following data at January 31:
| Beginning inventory Jan. 1 | 100 units at$8 per unit |
| Jan. 10 purchase | 320 units at $13 per unit |
| Jan. 22 purchase | 120 units at$14 per unit |
At January 31,
230
units are still on hand. What is the cost of the ending inventory at January 31 if Thelen uses the LIFO method?
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Cornerstones of Managerial Accounting
Authors: Mowen, Hansen, Heitger
3rd Edition
324660138, 978-0324660135
