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When WeCo begins operations in 20X4, it chooses the periodic method and LIFO costing. Within a given year's LIFO layer, it uses weighted average costing.
When WeCo begins operations in 20X4, it chooses the periodic method and LIFO costing. Within a given year's LIFO layer, it uses weighted average costing. During 20X4, WeCo makes the following merchandise purchases:
May 30 400 @ $4
June 24 800 @ $5
October 11 900 @ $7
December 4 1,400 @ $6
If the December 31, 20X4 ending inventory is 1,000 units, and the December 31, 20X5 ending inventory is 300 units, what is the 20X5 ending inventory?
$1,200
$1,380
$1,740
$1,800
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