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Transactions for the month of June were: Purchases Sales June 1 (balance) 3140 @ $3.30 June 2 2460 @ $5.30 3 8900 @ 3.20 6
Transactions for the month of June were:
Purchases | Sales | |||||||
June 1 | (balance) 3140 @ | $3.30 | June 2 | 2460 @ | $5.30 | |||
3 | 8900 @ | 3.20 | 6 | 6320 @ | 5.30 | |||
7 | 4820 @ | 3.40 | 9 | 4040 @ | 5.30 | |||
15 | 7140 @ | 3.50 | 10 | 1650 @ | 6.00 | |||
22 | 2060 @ | 3.60 | 18 | 5600 @ | 6.00 | |||
25 | 790 @ | 6.00 |
Assuming that perpetual inventory records are kept in dollars, the ending inventory on a LIFO basis is
$16954.
$18406.
$17154.
$17678.
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