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10 B 02:39:43 Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method. Units Acquired at Cost 15 units @ $24 = $360 8 units @ $29 = $232 Date June 1 June 15 June 29 Beginning inventory Sale Purchase The cost of the ending inventory is: Multiple Choice O $232 $272 $448 Activities $315 $360 Units Sold at Retail 6 units @ $54

10 B 02:39:43 Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method. Units Acquired at Cost 15 units @ $24 = $360 8 units @ $29 = $232 Date June 1 June 15 June 29 Beginning inventory Sale Purchase The cost of the ending inventory is: Multiple Choice O $232 $272 $448 Activities $315 $360 Units Sold at Retail 6 units @ $54

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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10 02:39:43 Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method. Units Acquired at Cost 15 units @ $24 = $360 8 units @ $29 = $232 Date June 1 June 15 June 29 Activities Beginning inventory Sale Purchase The cost of the ending inventory is: Multiple Choice $232 $272 $448 $315 $360 Units Sold at Retail 6 units @ $54
Transcribed Image Text:10 02:39:43 Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method. Units Acquired at Cost 15 units @ $24 = $360 8 units @ $29 = $232 Date June 1 June 15 June 29 Activities Beginning inventory Sale Purchase The cost of the ending inventory is: Multiple Choice $232 $272 $448 $315 $360 Units Sold at Retail 6 units @ $54
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