Apples Inc just began business and made the following four inventory purchases in June. ...

50.1K

Verified Solution

Question

Accounting

Apples Inc just began business and made the following four inventory purchases in June.

June 1 135 units $890

June 10 180 units 1208

June 15 180 units 1232

June 28 135 units 956

A physical count of merchandise inventory on June 30 reveals that there are 180 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is:

Please provide step by step to the answer. Thank you!

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