Stella owns a shop selling plastic containers. On 1 August 2021, the firm has 80...
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Stella owns a shop selling plastic containers. On 1 August 2021, the firm has 80 units of containers at $2 each. During the month of August, the following transactions took place: 8 Aug Purchased 250 units at $3 each 10 Aug Sold 140 units at $6 each 25 Aug Purchased 200 units at $4 each The company adopts the Last-In-First-Out method under the periodic inventory system to value its closing inventory. What is the amount of inventory on 31 August 2021? Group of answer choices
$1,150
$1,200
$1,390
$1,430
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