Imu puicilaseu UII August 24, ohlv 150assumed sold This -11. Now assume the same information: The Beach Bum SurfCo. is evaluating the inventory of its most popular boogieboard as the summer season ends. They had beginninginventory of 20 boards at a cost of $25. Then purchases of 130boards at $27 each, 140 boards at $28 each, and 135 boards at$30 each. If ending inventory is 15 boards and Beach Bum usesthe LIFO method, what would be the dollar amount assigned toending inventory?A. $423.B. $11,980.C. $11,605.D. $375.

Using LIFO method, the new inventory is sold out and old inventory is left in the stock.

11. Now assume the same information: The Beach B Co. is evaluating the inventory of its most popular boc board as the summer season ends. They had beginnin inventory of 20 boards at a cost of $25. Then purchas boards at $27 each, 140 boards at $28 each, and 135 $30 each. If ending inventory is 15 boards and Beach the LIFO method, what would be the dollar amount as: ending inventory? A. $423. B. $11,980. C. $11,605. - D. $375.

11. Now assume the same information: The Beach B Co. is evaluating the inventory of its most popular boc board as the summer season ends. They had beginnin inventory of 20 boards at a cost of $25. Then purchas boards at $27 each, 140 boards at $28 each, and 135 $30 each. If ending inventory is 15 boards and Beach the LIFO method, what would be the dollar amount as: ending inventory? A. $423. B. $11,980. C. $11,605. - D. $375.

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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