Answered step by step
Verified Expert Solution
Question
1 Approved Answer
why is the answer $4,110. can someone work it out for me please. system, The ransactions for the month of June weres Purchases June 1
why is the answer $4,110. can someone work it out for me please.
system, The ransactions for the month of June weres Purchases June 1 (balance) 800 @ $3.20 June 2 60055.50 Sales 2.200 a 3.10 1.200 3.30 1,800 a 3.40 500 a 3.50 6 1,600@ 5.50 9 1,000 a 5.50 10 400 6.00 18 1,400 @ 6.00 25 200 6.00 15 I1. Assuming that perpetual inventory records are kept in units only, the ending inventory on a LIFO basis is A) $4,110. B) $4.160 C) $4,290. D) $4.470. Milford Company had 500 units of "Tank" in its inventory at a cost of $4 each. It nurchased, for $2,800, 300 more units of "Tank". Milford then sold 400 units at a 12
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started