Swifty has the following inventory data: July 1 Beginning inventory 23 units at $46 Purchases 137 units at $43 14 Sale 91 units 21 Purchases 68 units at $44 30 Sale 64 units Assuming that a perpetual inventory system is used, what is the ending inventory on a LIFO basis for July? $3200 O $3500 O $3212 O $3248

Swifty has the following inventory data: July 1 Beginning inventory 23 units at $46 Purchases 137 units at $43 14 Sale 91 units 21 Purchases 68 units at $44 30 Sale 64 units Assuming that a perpetual inventory system is used, what is the ending inventory on a LIFO basis for July? $3200 O $3500 O $3212 O $3248

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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