Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. \a company's inventory records indicate the follow

\A company's inventory records indicate the following data for the month of January: ...

70.2K

Verified Solution

Question

Accounting

\A company's inventory records indicate the following data for the month of January:
Date Activities Units Acquired at Cost Units Sold at Retail
January 1 Beginning inventory 360 units @ $18= $6,480
January 8 Purchase 340 units @ $20= $6,800
January 12 Sale 600 units @ $70
January 17 Purchase 400 units @ $22= $8,800
January 23 Sale 300 units @ $70
January 28 Purchase 460 units @ $24= $11,040
If the company uses the LIFO perpetual inventory system, what would be the cost of the ending inventory?
Multiple Choice
$6,600.
$15,040.
$12,480.
$17,480.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

1) You have extracted your targeted plasmid from Milariuza. equilirus in your home. Because you do...

Physics
1.2K views

A very long uniform line of charge has charge per unit length 4.74?C/m and lies along...

Physics
1.2K views

A particle P is moving on a circle under the action of only one force...

Physics
1.2K views

direction An artificial satellite is moving in a circular orbit of radius 42250 km Calculate...

Basic Math
1.2K views

a Determine the number of points in the sample space b Construct a tree diagram...

Basic Math
1.2K views

1 point 5 letter words are formed using the letters A B C D E...

Basic Math
1.2K views

Strategies used by entrepreneurs to overcome barriers to entry do NUI include O combatting customer...

Statistics
1.2K views

Assume that the Poisson distribution applies and that the m a Find the probability that...

Calculus
1.2K views

A culture of bacteria has an initial population of 94000 bacteria and doubles every 6...

Accounting
1.2K views

Discussion the following: 1. Batch Processing System 2. Strengths and weaknesses of the batch processing...

Accounting
1.2K views

Question 3: Economic value-added (EVA). Net operating profit before taxes is $2,000. Total...

Accounting
1.2K views

2000 DiviaenU 700 Interest on tax-exempt securities Their itemized deductions tot Compute their taxable income....