Multiple Choice
A corporation uses a LIFO perpetual inventory system. August 2, 25 units were purchased at $12 per unit.
August 5, 10 units were purchased at $13 per unit.
August 15, 12 units were sold at $25 per unit.
August 18, 15 units were purchased at $14 per unit.
What was the amount of the ending inventory for the month of August?
A) $496.00
B) $486.00
C) $492.57
D) $300.00
E) $510.00
Correct Answer:
Verified
Correct Answer:
Verified
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