13,100 units at a cost of $9.00 per unit = $117,900
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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inventory of 22,200 units cosisted of the following, listed in chronogical order of acquisition:
13,100 units at a cost of $9.00 per unit = $117,900
9,100 units at a cost of $10.00 per unit = 91,000
during 2021, inventory quantity declined by 12,200 units. all units purchased during 2021 cost $13.00
Required: Calculate the before-tax LIFO liquidation profit or loss that the company woul report in disclosure if determined is material?
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