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What was the value of Jeanneret inventory at the end

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Question - You were given the following information about one of Jeanneret Inc.'s inventory item X.

Date

Transaction

Number of units

Cost per unit

01/01/2019

Beginning inventory

35

$25

05/14/2019

Purchase

40

$39

08/17/2019

Purchase

20

$42

Jeanneret Inc. applies the Last-in-first-out (LIFO) assumption and adopts the lower of cost or net realizable value.

At the end of the year, the ending inventory consisted of 45 units of Item X and the net realizable value of the Item X was $28.

Required - What was the value of Jeanneret's inventory at the end of the year?

Reference no: EM132802140

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