Question
Transactions for the month of June were: Purchases Sales June 1 (balance) 800 at 3.20 June 2 .600 at $5.50 3.2,200 at 3.10 6..1,600 at
Transactions for the month of June were:
| Purchases | Sales |
| June 1 (balance) 800 at 3.20 | June 2 .600 at $5.50 |
| 3.2,200 at 3.10 | 6..1,600 at 5.50 |
| 7.1,200 at 3.30 | 91,000 at 5.50 |
| 15..1,800 at 3.40 | 10.. 400 at 6.00 |
| 22..500 at 3.50 | 18..1.400 at 6.00 |
|
| 25..200 at 6.00 |
Assuming that perpetual inventory system is adopted, the ending inventory on a LIFO basis?
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Financial Accounting For Decision Makers
Authors: Eddie McLaney, Peter Atrill
4th Edition
9780273688471
