Solution-What is AbCo ending inventory

What is AbCo ending inventory

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Question - AbCo begins operations in 20X0, uses the periodic method and LIFO costing, and purchases merchandise as follows:

Month	20X0	20X1	20X2
February	150 @ $2.00	300 @ $4.00	450 @ $5.50
June	250 @ $2.50	450 @ $6.00	300 @ $7.00
August	100 @ $3.50	50 @ $4.50	350 @ $6.50
December	200 @ $3.00	350 @ $5.00	50 @ $8.00

AbCo's 20X0 ending inventory is 150 units; 20X1 ending inventory, 100 units and 20X2 ending inventory, 350 units. What is AbCo's 20X2 ending inventory?

a. $1,500

b. $1,575

c. $1,900

d. $1,975

Reference no: EM132903838

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What is AbCo ending inventory

Reference no: EM132903838

Reference no: EM132903838

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