Alpha Furniture purchases cabinets from local suppliers and sells them to customers through its nationwide...
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Alpha Furniture purchases cabinets from local suppliers and sells them to customers through its nationwide showrooms. Calculate the value of Ending Inventory under LIFO method. On March 1 2016, Alpha Furniture had opening inventory of 45 cabinets with a cost of $450 each. During the month of March 2016, the following purchases were made 3rd March 35 cabinets @ $440 each 14th March 25 cabinets @ $460 each 22nd March 55 cabinets @ $430 each 28th March 50 cabinets a 445 each During the month of March 2016, 160 cabinets were sold to the customers, O $22250 O $22450 $20250 $50
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