Bonita has the following inventory data: Nov. 1 ...
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Accounting
Bonita has the following inventory data:
| Nov. 1 | Inventory | 26 units @ $5.30 each | ||
| 8 | Purchase | 106 units @ $5.70 each | ||
| 17 | Purchase | 53 units @ $5.55 each | ||
| 25 | Purchase | 79 units @ $5.80 each |
A physical count of merchandise inventory on November 30 reveals that there are 88 units on hand. Ending inventory under LIFO is
$1003.
$491.
$986.
$508.
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