Question
Waterway Industries has the following inventory information. July 1 Beginning Inventory 30 units at $110 5 Purchases 240 units at $116 14 Sale 160 units
Waterway Industries has the following inventory information.
July 1 Beginning Inventory 30 units at $110
5 Purchases 240 units at $116
14 Sale 160 units
21 Purchases 90 units at $115
30 Sale 120 units
Assuming that a periodic inventory system is used, what is the amount allocated to ending inventory on a LIFO basis?
$33840
$9450
$27600
$9100
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Sound Investing, Chapter 15 - Liability Tricks
Authors: Kate Mooney
2nd Edition
0071719377, 9780071719377
