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Home Q & A Board Other Fields Homework Help Business Accounting
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tivo tivo
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7 years ago
Given the following inventory activity, what is ending inventory using the perpetual LIFO costing method?

Date      Quantity   Unit Cost
Beginning Balance      
100   
$5.00
September 17   Purchase   50   $3.50
September 24   Sale   25   
September 29   Purchases   40   $6

A) 165 units @ $4.86
B) 100 units @ $5.00 and 25 units @ $3.50 and 40 units @ $6.00
C) 125 units @ $4.50 and 40 units @ $6.00
D) 75 units @ $5.00 and 50 units @ $3.50 and 40 units @ $6.00
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Financial Accounting

Financial Accounting


Edition: 3rd
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largerthanlifelargerthanlife
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7 years ago
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tivo Author
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#2
7 years ago
I appreciate it once again, answered correctly
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