Lime company purchased 400 units for $20 each on January 31. It purchased 100 units...

80.2K

Verified Solution

Question

Accounting

Lime company purchased 400 units for $20 each on January 31. It purchased 100 units for $40 each on February 28. It sold a total of 170 units for $90 each from March 1 through December 31. If the company uses the last-in, first-out inventory costing method, calculate the cost of ending inventory on December 31.(Assume that the company uses a perpetual inventory system.)
Please format this fill in the blank question answer as follows with no decimals or spaces. Please make sure to follow the correct
image

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