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Diligent Ltd Had Five Units of the Commodity Algo on Hand

Question 8

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 periodic inventory system? A) $1 580 B) $1 480 C) $1 460 D) $1 590 What was the value of ending inventory of Algo, using the LIFO assumption in a periodic inventory system?


A) $1 580
B) $1 480
C) $1 460
D) $1 590

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