Sheridan Co. has the following data related to an item of inventory: Inventory, March 1 Purchase, March 7 Purchase, March 16 Inventory, March 31 360 units 1450 units 310 units 510 units O $1044. O $984. O $1035. O $969. @ $1.90 @ $2.00 @ $2.05 The value assigned to ending inventory if Sheridan uses a LIFO periodic inventory system is

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Subject: accounting 

Sheridan Co. has the following data related to an item of inventory:
Inventory, March 1
Purchase, March 7
Purchase, March 16
Inventory, March 31
360 units
1450 units
310 units
510 units
O $1044.
O $984.
O $1035.
O $969.
@ $1.90
@ $2.00
@ $2.05
The value assigned to ending inventory if Sheridan uses a LIFO periodic inventory system is
Transcribed Image Text:Sheridan Co. has the following data related to an item of inventory: Inventory, March 1 Purchase, March 7 Purchase, March 16 Inventory, March 31 360 units 1450 units 310 units 510 units O $1044. O $984. O $1035. O $969. @ $1.90 @ $2.00 @ $2.05 The value assigned to ending inventory if Sheridan uses a LIFO periodic inventory system is
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