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Transactions for the month of June were: Purchases Sales June 1 (balance) 3170 @ $3.30 June 2 2430 @ $5.50 3 8840 @ 3.20 6
Transactions for the month of June were:
Purchases | Sales | |||||||
June 1 | (balance) 3170 @ | $3.30 | June 2 | 2430 @ | $5.50 | |||
3 | 8840 @ | 3.20 | 6 | 6420 @ | 5.50 | |||
7 | 4840 @ | 3.40 | 9 | 3980 @ | 5.50 | |||
15 | 7300 @ | 3.50 | 10 | 1700 @ | 6.00 | |||
22 | 1900 @ | 3.60 | 18 | 5560 @ | 6.00 | |||
25 | 800 @ | 6.00 |
Assuming that perpetual inventory records are kept in dollars, the ending inventory on a LIFO basis is
| $17548. |
| $16541. |
| $18250. |
| $16741. |
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