A company just starting business made the following four inventory purchases in June: June 1 100 units $410 June 10 170 units 595 June 15 170 units 600 June 28 120 units 490 $2095 A physical count of merchandise inventory on June 30 reveals that there are 180 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is O $690. $1323. O $1405. O $772.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A company just starting business made the following four inventory purchases in June:
June 1
100 units
$410
June 10
170 units
595
June 15
170 units
600
June 28
120 units
490
$2095
A physical count of merchandise inventory on June 30 reveals that there are 180 units on hand. Using the LIFO inventory method, the
value of the ending inventory on June 30 is
O $690.
O $1323.
O $1405.
O $772.
回可可
S
b n
m
Transcribed Image Text:Question 12 of 20 < > -/1 A company just starting business made the following four inventory purchases in June: June 1 100 units $410 June 10 170 units 595 June 15 170 units 600 June 28 120 units 490 $2095 A physical count of merchandise inventory on June 30 reveals that there are 180 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is O $690. O $1323. O $1405. O $772. 回可可 S b n m
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