Westcoast Purveyors had 339 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 1,182 59,100 August 1 Purchase 300 894 268,200 October 23 Purchase 200 1,206 241,200 November 16 Purchase 100 1,494 149,400 Total available for sale 700 $790,800 Using the LIFO method of inventory pricing, calculate the dollar value of the ending inventory. $
Westcoast Purveyors had 339 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 1,182 59,100 August 1 Purchase 300 894 268,200 October 23 Purchase 200 1,206 241,200 November 16 Purchase 100 1,494 149,400 Total available for sale 700 $790,800 Using the LIFO method of inventory pricing, calculate the dollar value of the ending inventory. $
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Westcoast Purveyors had 339 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 | 1,182 | 59,100 |
| August 1 | Purchase | 300 | 894 | 268,200 |
| October 23 | Purchase | 200 | 1,206 | 241,200 |
| November 16 | Purchase | 100 | 1,494 | 149,400 |
| Total available for sale | 700 | $790,800 |
Using the LIFO method of inventory pricing, calculate the dollar value of the ending inventory.
$
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