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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