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O $2,313 $2.238 WAP Industries has the following inventory records in March Price/Unit $5.50 $5.60 Beginning Inventory Purchases, Nov 10 Purchases, Nov 15 Purchases, Nov 28 200 175 #Units 100 225 A physical count of merchandise inventory on March 31 reveals that there are 300 units $5.70 $5.90 Using the LIFO inventory method, the cost of the inventory sold

O $2,313 $2.238 WAP Industries has the following inventory records in March Price/Unit $5.50 $5.60 Beginning Inventory Purchases, Nov 10 Purchases, Nov 15 Purchases, Nov 28 200 175 #Units 100 225 A physical count of merchandise inventory on March 31 reveals that there are 300 units $5.70 $5.90 Using the LIFO inventory method, the cost of the inventory sold

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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O $2,313 O $2,238 O $1,745 O $1.670 WAP Industries has the following inventory records in March Price/Unit $5.50 $5.60 $5.70 $5.90 Beginning Inventory Purchases, Nov 10 Purchases, Nov 15 Purchases, Nov 28 175 #Units 100 225 200 A physical count of merchandise inventory on March 31 reveals that there are 300 units on hand. Using the LIFO inventory method, the cost of the inventory sold in March is:
Transcribed Image Text:O $2,313 O $2,238 O $1,745 O $1.670 WAP Industries has the following inventory records in March Price/Unit $5.50 $5.60 $5.70 $5.90 Beginning Inventory Purchases, Nov 10 Purchases, Nov 15 Purchases, Nov 28 175 #Units 100 225 200 A physical count of merchandise inventory on March 31 reveals that there are 300 units on hand. Using the LIFO inventory method, the cost of the inventory sold in March is:
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