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What is the amount allocated to ending inventory on a lifo

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Reference no: EM132689896

Crane Industries has the following inventory information.

July 1 Beginning Inventory 30 units at $110

5. Purchases. 220 units at $108

14 Sale. 140 units

21 Purchases. 90 units at $110

30 Sale. 120 units

Problem 1: Assuming that a periodic inventory system is used, what is the amount allocated to ending inventory on a LIFO basis?

A) $26400

B) $30360

C) $9030

D) $8700

Reference no: EM132689896

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