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Transactions for the month of June were: Purchases Sales June 1 (balance) 3230 @ $3.10 June 2 2500 @ $5.60 3 8870 @ 3.00 6
Transactions for the month of June were:
Purchases | Sales | |||||||
June 1 | (balance) 3230 @ | $3.10 | June 2 | 2500 @ | $5.60 | |||
3 | 8870 @ | 3.00 | 6 | 6310 @ | 5.60 | |||
7 | 4900 @ | 3.20 | 9 | 3980 @ | 5.60 | |||
15 | 7160 @ | 3.30 | 10 | 1640 @ | 7.00 | |||
22 | 2040 @ | 3.40 | 18 | 5640 @ | 7.00 | |||
25 | 750 @ | 7.00 |
Assuming that perpetual inventory records are kept in units only, the ending inventory on a LIFO basis is
| $16463. |
| $17958. |
| $16678. |
| $17216. |
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