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Determine the ending inventory cost using LIFO

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Reference no: EM133022831

Question - The units of an item available for sale during the year were as follows:

Jan. 1 Inventory 10 units at $25

Apr. 4 Purchase 15 units at $24

May. 20 Purchase 20 units at $28

Oct. 30 Purchase 18 units at $30

There are 19 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost using LIFO.

Reference no: EM133022831

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