A record of transactions for the month of May was as follows: May May Purchases...
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Accounting
A record of transactions for the month of May was as follows: May May Purchases 1 (balance) 460 @ $5.60 4 1,330 @ $5.50 8 890 @ $5.70 14 790 @ $5.80 22 1,240 @ $5.90 29 600 @ $5.00 Sales 3 230 @ $8.00 6 1,080 @ 8.00 12 990 @ 8.50 18 440 @ 8.50 25 1,450 9.00 Assuming that perpetual inventory records are kept in dollars, determine the ending inventory using LIFO. Ending inventory $
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