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Calculate the cost of the inventory at january

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Question - Swifty Bookstore had 450 units on hand at January 1, costing $9 each. Purchases and sales during the month of January were as follows:

Date Purchases Sales Jan. 14 350 @ $1417 260 @ $12 25 260 @ $11 29 220 @ $17

Swifty does not maintain perpetual inventory records. According to a physical count, 400 units were on hand at January 31.

Calculate the cost of the inventory at January 31, under the LIFO method?

Reference no: EM132218548

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