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43. NaCo opened for business in 20X1 and had the following merchandise transactions: 20X1 20X2 20X3 20X4 Units Purchased Units Sold Units on Hand 900 200 1,600 400 1,400 300 1,500 500 1,100 @ $12 1,800 $14 1,300 @ $16 1,700 @ $18 dhy Use LIFO costing to compute the dollar amount of the 500 units of ending inventory as of December 31, 20X4. a. $5,800 c. $6,700 b. $7,400 d. $8,800

43. NaCo opened for business in 20X1 and had the following merchandise transactions: 20X1 20X2 20X3 20X4 Units Purchased Units Sold Units on Hand 900 200 1,600 400 1,400 300 1,500 500 1,100 @ $12 1,800 $14 1,300 @ $16 1,700 @ $18 dhy Use LIFO costing to compute the dollar amount of the 500 units of ending inventory as of December 31, 20X4. a. $5,800 c. $6,700 b. $7,400 d. $8,800

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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43. NaCo opened for business in 20X1 and had the following merchandise transactions: 20X1 20X2 20X3 20X4 Units Purchased Units Sold Units on Hand 1,100 @ $12 900 200 1,800@ $14 1,600 400 1,300 @ $16 1,400 300 1,700 @ $18 500 headband 1,500 Use LIFO costing to compute the dollar amount of the 500 units of ending inventory as of December 31, 20X4. a. $5,800 c. $6,700 b. $7,400 d. $8,800
Transcribed Image Text:43. NaCo opened for business in 20X1 and had the following merchandise transactions: 20X1 20X2 20X3 20X4 Units Purchased Units Sold Units on Hand 1,100 @ $12 900 200 1,800@ $14 1,600 400 1,300 @ $16 1,400 300 1,700 @ $18 500 headband 1,500 Use LIFO costing to compute the dollar amount of the 500 units of ending inventory as of December 31, 20X4. a. $5,800 c. $6,700 b. $7,400 d. $8,800
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