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Diligent Ltd Had Five Units of the Commodity Algo on Hand

Question 15

Multiple Choice

Diligent Ltd had five units of the commodity Algo on hand at 1 September 2019. The following purchases and sales were made during September: Diligent Ltd had five units of the commodity Algo on hand at 1 September 2019. The following purchases and sales were made during September: What was the value of ending inventory of Algo, using the LIFO assumption in a perpetual inventory system? A) $1 460 B) $1 480 C) $1 580 D) $2 400 What was the value of ending inventory of Algo, using the LIFO assumption in a perpetual inventory system?


A) $1 460
B) $1 480
C) $1 580
D) $2 400

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