Multiple Choice
Versace Company, an Italian subsidiary of a US company, uses the periodic inventory system. At November 1, the beginning inventory consisted of 2,400 units that cost €120 each. During the month, the company made two purchases: 1,000 units at €130 each and 4,000 units at €135 each. Versace sold 4,300 units during November. Using the LIFO cost flow assumption, what is the ending inventory?
A) €372,000.
B) €379,000.
C) €401,460.
D) €418,500.
Correct Answer:
Verified
Correct Answer:
Verified
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