Blue Corporation began operations on December 1, 2024. The only inventory transaction in 2024 was the purchase of inventory on December 10, 2024, at a cost of $25 per unit. None of this inventory was sold in 2024. Relevant information is as follows. Ending inventory units December 31, 2024 December 31, 2025, by purchase date December 2, 2025 July 20, 2025 March 15 July 20 September 4 During the year, the following purchases and sales were made. Purchases 322 units at $30 324 322 units at 222 units 122 at 35 122 50 172 Sales April 10 August 201 November 18 222 322 172
Blue Corporation began operations on December 1, 2024. The only inventory transaction in 2024 was the purchase of inventory on December 10, 2024, at a cost of $25 per unit. None of this inventory was sold in 2024. Relevant information is as follows. Ending inventory units December 31, 2024 December 31, 2025, by purchase date December 2, 2025 July 20, 2025 March 15 July 20 September 4 During the year, the following purchases and sales were made. Purchases 322 units at $30 324 322 units at 222 units 122 at 35 122 50 172 Sales April 10 August 201 November 18 222 322 172
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Determine ending inventory using dollar-value LIFO. Assume that the December 2, 2025, purchase cost is the current cost of
inventory. (Hint: The beginning inventory is the base layer priced at $25 per unit.) (Round answer to O decimal places, e.g. 2,760.)
Ending inventory at dollar-value LIFO $
Transcribed Image Text:Blue Corporation began operations on December 1, 2024. The only inventory transaction in 2024 was the purchase of inventory on
December 10, 2024, at a cost of $25 per unit. None of this inventory was sold in 2024. Relevant information is as follows.
Ending inventory units
December 31, 2024
December 31, 2025, by purchase date
December 2, 2025
July 20, 2025
March 15
July 20
September 4
December 2
During the year, the following purchases and sales were made.
Purchases
122
322 units at $30
322 units at 32
222 units at 35
122 units at 38
122
50 172
Sales
April 10
August 201
November 18
The company uses the periodic inventory method.
December 12
222
322
172
222
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