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Diligent Ltd Had 5 Units of the Commodity Algo on Hand

Question 14

Multiple Choice

Diligent Ltd had 5 units of the commodity Algo on hand at 1 September 2016.The following purchases and sales were made during September: Diligent Ltd had 5 units of the commodity Algo on hand at 1 September 2016.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) $1580 B) $1480 C) $1460 D) $1590
-What was the value of ending inventory of Algo,using the LIFO assumption in a periodic inventory system?


A) $1580
B) $1480
C) $1460
D) $1590

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