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What is the Ending LIFO inventory balance for Evelyn Enterprises? Information on Evelyn Enterprises inventories is below for the first quarter of 2021: Quantity Unit
What is the Ending LIFO inventory balance for Evelyn Enterprises?
Information on Evelyn Enterprises inventories is below for the first quarter of 2021: | |||||
Quantity | Unit Price | Total | |||
Beginning inventory, Jan. 1, 20X1 | 1000 | 10 | $ 10,000 | ||
(1) Purchase | 2500 | 11 | $ 27,500 | ||
(2) Purchase | 1250 | 10 | $ 12,500 | ||
(3) Purchase | 1100 | 10.5 | $ 11,550 | ||
Ending inventory, Mar. 31, 20X1 | 1200 |
Group of answer choices
12,200
$12,550
$49,000
$49,350
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