Glasgow Enterprises started the period with 60 units in beginning inventory that cost $1.70 each....
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Glasgow Enterprises started the period with 60 units in beginning inventory that cost $1.70 each. During the period, the company purchased inventory items as follows. Glasgow sold 255 units after purchase 3 for $10.00 each.
| Purchase | No. of Items | Cost | ||||
| 1 | 380 | $ | 2.20 | |||
| 2 | 110 | $ | 2.30 | |||
| 3 | 50 | $ | 2.70 | |||
Glasgow's ending inventory under LIFO would be:
Multiple Choice
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$729.
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$932.
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$794.
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$587.
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