Miley's Fruit Shop sells special organic bananas. The information below relates to the month of March 2020. The sale price for each banana is $1.50. (assume no GST in this question). TRANSACTIONS 1s March beginning Inventory of bananas 200 @ $1.00 cost per banana 3rd March purchased in bananas 100 @ $1.05 cost per banana 5th March sold 110 bananas 18th March purchased in banal 80 @ $1.09 cost per banana 20th March sold 95 bananas 25th March sold 10 bananas Miley applies the LIFO approach within a perpetual system, to track her Inventory. Therefore, on the 31st March, the Ending Inventory (unsold bananas) of Miley's shop would be valued at: Select one: O a. $160.00 O b. $165.00 O c. $171.80 O d. $185.30

Miley's Fruit Shop sells special organic bananas. The information below relates to the month of March 2020. The sale price for each banana is $1.50. (assume no GST in this question). TRANSACTIONS 1s March beginning Inventory of bananas 200 @ $1.00 cost per banana 3rd March purchased in bananas 100 @ $1.05 cost per banana 5th March sold 110 bananas 18th March purchased in banal 80 @ $1.09 cost per banana 20th March sold 95 bananas 25th March sold 10 bananas Miley applies the LIFO approach within a perpetual system, to track her Inventory. Therefore, on the 31st March, the Ending Inventory (unsold bananas) of Miley's shop would be valued at: Select one: O a. $160.00 O b. $165.00 O c. $171.80 O d. $185.30

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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