QUESTION 14ABC Corporation has the following inventory information for March, 2019:Units$Unit cost$ Total CostBeg. Inv.10.5026,2502,500Purchase 110.7534,4003,200Purchase 211.0029,7002,700Purchase 311.2522,5002,000Total112,85010,400On March 31, ABC has 2,700 units in ending inventory. Using the periodic LIFO (last-in, first-out) method, what is the value of ending inventory on March 31?O a. $28,400O b. $28,350O c. $30,375O d. $30,200

Name: QUESTION 14ABC Corporation has the following inventory information fo
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Description: QUESTION 14ABC Corporation has the following inventory information for March, 2019:Units$Unit cost$ Total CostBeg. Inv.10.5026,2502,500Purchase 110.7534,4003,200Purchase 211.0029,7002,700Purchase 311.2522,5002,000Total112,85010,400On March 31, ABC h

Answer LIFO (Last-in first out) Last in, first out (LIFO) is a method used to account for inventory…

Business

Accounting

Total 112,850 10,400 On March 31, ABC has 2,700 units in ending inventory. Using the periodic LIFO (last-in, first-out) method, what is the value of ending inventory on March 31? O a. $28,400 O b.$28,350

Total 112,850 10,400 On March 31, ABC has 2,700 units in ending inventory. Using the periodic LIFO (last-in, first-out) method, what is the value of ending inventory on March 31? O a. $28,400 O b.$28,350

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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