Please do not give solution in image format thanku Transactions for the month of June were:June 1371522Purchases(balance) 3170 @ $3.008720 @2.90$16177.$15368.$15568.$16842.3.104870 @7280@2020@ 3.303.20June 269101825Sales2420 @ $5.706330 @4100 @1700 @5540 @5.705.706.006.00770@ 6.00Assuming that perpetual inventory records are kept in dollars, the ending inventory on a LIFO basis is

Last-In-First-Out Method - Under the Last-In-First-Out Method Company uses inventory in the…

Transactions for the month of June were: June 1 3 7 15 22 Purchases (balance) 3170 @ $3.00 8720 @ 2.90 4870 @ 3.10 7280 @ 3.20 2020 @ 3.30 June 2 O $16177. $15368. $15568. O $16842. 6 9 10 18 25 Sales 2420 @ 6330 @ 4100 @ 1700 @ 5540 @ 770 @ $5.70 5.70 5.70 6.00 6.00 6.00 Assuming that perpetual inventory records are kept in dollars, the ending inventory on a LIFO basis is

Transactions for the month of June were: June 1 3 7 15 22 Purchases (balance) 3170 @ $3.00 8720 @ 2.90 4870 @ 3.10 7280 @ 3.20 2020 @ 3.30 June 2 O $16177. $15368. $15568. O $16842. 6 9 10 18 25 Sales 2420 @ 6330 @ 4100 @ 1700 @ 5540 @ 770 @ $5.70 5.70 5.70 6.00 6.00 6.00 Assuming that perpetual inventory records are kept in dollars, the ending inventory on a LIFO basis is

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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Question

Please do not give solution in image format thanku

Transactions for the month of June were:
June 1
3
7
15
22
Purchases
(balance) 3170 @ $3.00
8720 @
2.90
$16177.
$15368.
$15568.
$16842.
3.10
4870 @
7280@
2020@ 3.30
3.20
June 2
6
9
10
18
25
Sales
2420 @ $5.70
6330 @
4100 @
1700 @
5540 @
5.70
5.70
6.00
6.00
770@ 6.00
Assuming that perpetual inventory records are kept in dollars, the ending inventory on a LIFO basis is

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