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What is ending inventory under the LIFO method

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Reference no: EM132751043

Question - Use this inventory information for the month of March to answer the following question.

March 1 Beginning inventory 30 units @ $56

March 7 Purchase 60 units @ $60

March 18 Sale 25 units

March 22 Purchase 10 units @ $66

March 29 Sale 40 units

Assume that a periodic inventory system is used.

Required - What is ending inventory under the LIFO method?

a. $1,680

b. $1,980

c. More information is needed.

d. $2,720

Reference no: EM132751043

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