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The following data represent the beginning inventory and, in order of occurrence, the purchases and sales Beginning Inventory Sale No. 1 Purchase No. 1 Sale No. 2 Purchase No. 2 Totals Select one: A. $4,464 B. $3,168 C. $3,816 Units Unit Cost Total Cost D. $3,240 50 30 40 120 $93 75 66 $4,650 2,250 Units Sold 40 32 Assuming Wood, Inc. uses LIFO periodic inventory procedures, the ending inventory cost is: 2,640 $9,540 72 -

The following data represent the beginning inventory and, in order of occurrence, the purchases and sales Beginning Inventory Sale No. 1 Purchase No. 1 Sale No. 2 Purchase No. 2 Totals Select one: A. $4,464 B. $3,168 C. $3,816 Units Unit Cost Total Cost D. $3,240 50 30 40 120 $93 75 66 $4,650 2,250 Units Sold 40 32 Assuming Wood, Inc. uses LIFO periodic inventory procedures, the ending inventory cost is: 2,640 $9,540 72 -

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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The following data represent the beginning inventory and, in order of occurrence, the purchases and sales c Beginning Inventory Sale No. 1 Purchase No. 1 Sale No. 2 Purchase No. 2 Totals Select one: O A. $4,464 B. $3,168 Units Unit Cost Total Cost C. $3,816 D. $3,240 50 30 40 120 $93 $4,650 75 66 2,250 2,640 $9,540 Units Sold 40 Assuming Wood, Inc. uses LIFO periodic inventory procedures, the ending inventory cost is: 32 72
Transcribed Image Text:The following data represent the beginning inventory and, in order of occurrence, the purchases and sales c Beginning Inventory Sale No. 1 Purchase No. 1 Sale No. 2 Purchase No. 2 Totals Select one: O A. $4,464 B. $3,168 Units Unit Cost Total Cost C. $3,816 D. $3,240 50 30 40 120 $93 $4,650 75 66 2,250 2,640 $9,540 Units Sold 40 Assuming Wood, Inc. uses LIFO periodic inventory procedures, the ending inventory cost is: 32 72
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