Question
Thelen's inventory records show the following data at January 31: Beginning inventory Jan. 1 110 units at $8 per unit Jan. 10 purchase 330 units
Thelen's inventory records show the following data at January 31:
| Beginning inventory Jan. 1 | 110 units at$8 per unit |
| Jan. 10 purchase | 330 units at$13 per unit |
| Jan. 22 purchase | 100 units at$14 per unit |
At January 31,
240
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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Auditing And Assurance Services
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley
12th Edition
0136128270, 9780136128274
