Multiple Choice
Saunders Corp., which accounts for inventory using the LIFO method, had 2,000 units in beginning inventory at a cost of $40 and had purchased 500 more for $43.During the quarter, 1,300 units were sold.It is expected that the ending inventory at year end will be 1,800 units as Saunders anticipates purchasing additional units for $45.The excess replacement cost for temporary liquidation for the quarter would be:
A) $3,000
B) $6,000
C) $1,200
D) $3,600
Correct Answer:
Verified
Correct Answer:
Verified
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