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What is the ending inventory on a lifo basis for july

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Reference no: EM132945592

Inventory data:

July 1 Beginning inventory 31.0 units at $62.0

July 5 Purchases 187.0 units at $58.0

July 14 Sale 125.0 units

July 21 Purchases 94.0 units at $60.0

July 30 Sale 87.0 units

Problem 1: Assuming that a perpetual inventory system is used, what is the ending inventory on a LIFO basis for July?

A. $5974

B. $6226

C. $5926

D. $5938

Reference no: EM132945592

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