Question
Thelen's inventory records show the following data at January 31: Beginning inventory Jan. 1 90 units at $5 per unit Jan. 10 purchase 270 units
Thelen's inventory records show the following data at January 31:
Beginning inventory Jan. 1 90 units at $5 per unit
Jan. 10 purchase 270 units at $11 per unit
Jan. 22 purchase 130 units at $12 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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Entrepreneurial Finance
Authors: J. Chris Leach, Ronald W. Melicher
6th edition
1305968352, 978-1337635653, 978-1305968356
