Westcoast Purveyors had 345 computer system in stock at the end of the year. Inventory records show the following information: Date Qty Cost Total Cost January 1 Beginning Inventory 50 $1,458 $72,900 June 21 Purchase 50 1,122 56,100 August 1 Purchase 300 954 286,200 October 23 Purchase 200 1,146 229,200 November 16 Purchase 100 1,434 143,400 Total available for sale 700 $787,800 Using the LIFO method of inventory pricing, calculate the dollar value of the ending inventory. $
Westcoast Purveyors had 345 computer system in stock at the end of the year. Inventory records show the following information: Date Qty Cost Total Cost January 1 Beginning Inventory 50 $1,458 $72,900 June 21 Purchase 50 1,122 56,100 August 1 Purchase 300 954 286,200 October 23 Purchase 200 1,146 229,200 November 16 Purchase 100 1,434 143,400 Total available for sale 700 $787,800 Using the LIFO method of inventory pricing, calculate the dollar value of the ending inventory. $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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![Westcoast Purveyors had 345 computer system in stock at the end of the year. Inventory records show the following information:
Date
Qty Cost
Total Cost
January 1
Beginning Inventory
50 $1,458
$72,900
June 21
Purchase
50 1,122
56,100
August 1
Purchase
300
954
286,200
October 23
Purchase
200
1,146
229,200
November 16
Purchase
100
1,434
143,400
Total available for sale 700
$787,800
Using the LIFO method of inventory pricing, calculate the dollar value of the ending inventory.
$
×](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F93b20189-160f-4a1d-aa1d-3bb270dec6cb%2F81e30c56-7dc9-48ea-bef2-98a9efafe350%2Fhfiz7s_processed.png&w=3840&q=75)
Transcribed Image Text:Westcoast Purveyors had 345 computer system in stock at the end of the year. Inventory records show the following information:
Date
Qty Cost
Total Cost
January 1
Beginning Inventory
50 $1,458
$72,900
June 21
Purchase
50 1,122
56,100
August 1
Purchase
300
954
286,200
October 23
Purchase
200
1,146
229,200
November 16
Purchase
100
1,434
143,400
Total available for sale 700
$787,800
Using the LIFO method of inventory pricing, calculate the dollar value of the ending inventory.
$
×
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