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Use This Information to Answer the Following Question A Periodic Inventory System Is Used

Question 64

Multiple Choice

Use this information to answer the following question.  Feb. 1 Inventory 200 units @ $6.006 Purchase 300 units @ $6.6013 Purchase 100 units @ $7.2020 Purchase 200 units @ $7.8025 Purchase 40 units @ $8.40 Total sales 620 units  \begin{array}{rlrl}\text { Feb. }&1 & \text { Inventory } & 200 \text { units @ } \$ 6.00 \\&6 & \text { Purchase } & 300 \text { units @ } \$ 6.60 \\&13 & \text { Purchase } & 100 \text { units @ } \$ 7.20 \\&20 & \text { Purchase } & 200 \text { units @ } \$ 7.80 \\&25 & \text { Purchase } & 40 \text { units @ } \$ 8.40 \\&& \text { Total sales } & 620 \text { units }\end{array}

A periodic inventory system is used.
Using LIFO,the cost assigned to ending inventory is


A) $1,740.
B) $4,056.
C) $1,332.
D) $4,464.

Correct Answer:

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