Consider the following Inventory records for Starstruck Corporation: Date Nov. 1 Beginning inventory Nov.17 Purchase Transaction The company sold 580 units of Inventory during the month. Calculate the ending Inventory assuming the company uses LIFO. (Do not round your Intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $968 $1,022 $673 Number Unit of Units Cost 450 $2.15 380 2.69 $538
Consider the following Inventory records for Starstruck Corporation: Date Nov. 1 Beginning inventory Nov.17 Purchase Transaction The company sold 580 units of Inventory during the month. Calculate the ending Inventory assuming the company uses LIFO. (Do not round your Intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $968 $1,022 $673 Number Unit of Units Cost 450 $2.15 380 2.69 $538
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter20: Accounting For Inventory
Section: Chapter Questions
Problem 3AP
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