question archive Glasgow Enterprises started the period with 80 units in beginning inventory that cost $7
Glasgow Enterprises started the period with 80 units in beginning inventory that cost $7
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Glasgow Enterprises started the period with 80 units in beginning inventory that cost $7.50 each. During the period, the company purchased inventory items as follows. Glasgow sold 220 units after purchase 3 for $17.00 each.
Purchase
No. of items
Cost
1
200
$ 9.00
2
150
$ 9.30
3
50
$ 10.50
Glasgow's ending inventory under LIFO would be: A) $2,730.
B) $2,460.
C) $2,220.
D) $1,950.
Glasgow Enterprises started the period with 80 units in beginning inventory that cost $7.50 each. During the period, the company purchased inventory items as follows. Glasgow sold 220 units after purchase 3 for $17.00 each.
|
Purchase |
No. of items |
Cost |
|
1 |
200 |
$ 9.00 |
|
2 |
150 |
$ 9.30 |
|
3 |
50 |
$ 10.50 |
Glasgow's ending inventory under LIFO would be: A) $2,730.
B) $2,460.
C) $2,220.
D) $1,950.
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