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Inventory Records for Herb's Chemicals Revealed the Following: March 1

Question 38

Multiple Choice

Inventory records for Herb's Chemicals revealed the following: March 1, 2018, inventory: 1,000 gallons @ $7.20 = $7,200 Inventory records for Herb's Chemicals revealed the following: March 1, 2018, inventory: 1,000 gallons @ $7.20 = $7,200 - Ending inventory assuming LIFO in a periodic inventory system would be: A) $5,040. B) $5,055. C) $5,075. D) $5,135.
- Ending inventory assuming LIFO in a periodic inventory system would be:


A) $5,040.
B) $5,055.
C) $5,075.
D) $5,135.

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