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Sheridan Company had the following transactions for the month of June: June 1 3 7 15 22 Purchases (balance) 3290 @ $3.00 8700 @ 4730@ 3.10 7100 @ 3.20 2.90 O $15150. O $16359. O $14974. O $15655. 1990@ 3.30 June 2 6 9 10 18 25 Sales 2400 @ $5.40 6450@ 5.40 5.40 8.00 3910@ 1690@ 5550 @ 760@ 8.00 8.00 Assuming that perpetual inventory records are kept in units only, the ending inventory on a LIFO basis is

Sheridan Company had the following transactions for the month of June: June 1 3 7 15 22 Purchases (balance) 3290 @ $3.00 8700 @ 4730@ 3.10 7100 @ 3.20 2.90 O $15150. O $16359. O $14974. O $15655. 1990@ 3.30 June 2 6 9 10 18 25 Sales 2400 @ $5.40 6450@ 5.40 5.40 8.00 3910@ 1690@ 5550 @ 760@ 8.00 8.00 Assuming that perpetual inventory records are kept in units only, the ending inventory on a LIFO basis is

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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Current Attempt in Progress Sheridan Company had the following transactions for the month of June: June 1 3 7 15 22 Purchases (balance) 3290 @ $3.00 8700 @ 4730@ 7100 @ 1990@ 3.30 2.90 $15150. $16359. $14974. $15655. 3.10 3.20 June 2 6 9 10 18 25 Sales 2400 @ $5.40 6450 @ 3910@ 1690@ 5550 @ 760 @ 5.40 5.40 8.00 8.00 8.00 Assuming that perpetual inventory records are kept in units only, the ending inventory on a LIFO basis is
Transcribed Image Text:Current Attempt in Progress Sheridan Company had the following transactions for the month of June: June 1 3 7 15 22 Purchases (balance) 3290 @ $3.00 8700 @ 4730@ 7100 @ 1990@ 3.30 2.90 $15150. $16359. $14974. $15655. 3.10 3.20 June 2 6 9 10 18 25 Sales 2400 @ $5.40 6450 @ 3910@ 1690@ 5550 @ 760 @ 5.40 5.40 8.00 8.00 8.00 Assuming that perpetual inventory records are kept in units only, the ending inventory on a LIFO basis is
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