Multiple Choice
Given the following information, determine the cost of ending inventory at December 31 using the LIFO perpetual inventory method. December 2: 5 units were purchased at $7 per unit.
December 9: 10 units were purchased at $9.40 per unit.
December 11: 12 units were sold at $35 per unit.
December 15: 20 units were purchased at $10.15 per unit.
December 22: 18 units were sold at $35 per unit.
A) $51.75
B) $83.22
C) $41.30
D) $94.00
E) $50.75
Correct Answer:
Verified
Correct Answer:
Verified
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