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Find what is the value of ending inventory

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Reference no: EM132827838

Problem 1: X uses a calendar year and the LIFO method in computing its inventory. It had 1,000 units on hand at the end of the year. Based on the following information, what is the value of its ending inventory?

Beginning inventory:

500 units with a perunit cost of $2.00
and a per-unit market value of $3.00
Purchases: September 25, 1,500 units with a per-unit cost of $3.00
and a per-unit market value of $3.00.
November 12, 1,000 units with a per-unit cost of $4.00
and a per-unit value of $4.00.

a. $2,500
b. $3,000
c. $4,000
d. $5,000

Reference no: EM132827838

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