question archive 4) Sanfillipo, Inc

4) Sanfillipo, Inc

Subject:AccountingPrice:2.84 Bought7

4) Sanfillipo, Inc., had 800 units of inventory on hand at March 1 of the current year, costing $20 each. Purchases and sales of inventory during the month of March were as follows:

Date Purchases Sales

March 8  600 units

15 400 units @ $22 each  

22 400 units @ $24 each  

27  400 units

Sanfillipo uses the periodic inventory system. According to a physical count, 600 units were on hand at the end of March.

The cost of inventory at the end of March applying the LIFO method is:

Option 1

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2.84 USD


Option 2

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