Transactions for the month of June were:                   Purchases         Sales       June 1   (balance) 3180 @ $3.30   June 2   2350 @ $5.40 3   8820 @ 3.20   6   6380 @ 5.40 7   4900 @ 3.40   9   3920 @ 5.40 15   7180 @ 3.50   10   1540 @ 8.00 22   1960 @ 3.60   18   5610 @ 8.00           25   760 @ 8.00 Assuming that periodic inventory records are kept in units only, the ending inventory on a LIFO basis is

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Transactions for the month of June were:

                 
Purchases         Sales      
June 1   (balance) 3180 @ $3.30   June 2   2350 @ $5.40
3   8820 @ 3.20   6   6380 @ 5.40
7   4900 @ 3.40   9   3920 @ 5.40
15   7180 @ 3.50   10   1540 @ 8.00
22   1960 @ 3.60   18   5610 @ 8.00
          25   760 @ 8.00


Assuming that periodic inventory records are kept in units only, the ending inventory on a LIFO basis is

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