Swifty uses the periodic inventory system. For the current month, the beginning inventory consisted of 7400 units that cost $10 each. During the month, the company made two purchases: 3000 units at $11 each and 11900 units at $11.50 each. Swifty also sold 12700 units during the month. What is the ending inventory if the LIFO method is used? O $104928 O $110400 O $96000 O $98200

Swifty uses the periodic inventory system. For the current month, the beginning inventory consisted of 7400 units that cost $10 each. During the month, the company made two purchases: 3000 units at $11 each and 11900 units at $11.50 each. Swifty also sold 12700 units during the month. What is the ending inventory if the LIFO method is used? O $104928 O $110400 O $96000 O $98200

Name: Swifty uses the periodic inventory system. For the current month, the
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Description: Swifty uses the periodic inventory system. For the current month, the beginning inventory consisted of 7400 units that cost $10 each.During the month, the company made two purchases: 3000 units at $11 each and 11900 units at $11.50 each. Swifty also

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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