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The annual inventory of Wheels Inc. shows the follwing information for 20-inch tires. If 36...

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Finance

The annual inventory of Wheels Inc. shows the follwing information for 20-inch tires. If 36 tires were on hand on December 31, what is the value of the ending inventory using the LIFO method of inventor pricing?

Date Quanitiy Cost Total
Jan 11 Beginning Inventory 50 $ 6.50 $ 325
March 20 Purchase 10 20.50 205
July 11 Purchase 24 26.50 636
Sept 11 Purchase 30 22.50 675
Nov 13 Purchase 40 $22.50 $900
Total available for sale 155 $2741

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