Thelen's inventory records show the following data at January 31: Beginning inventory Jan. 1 100 units...
Thelen's inventory records show the following data at January 31:
|
Beginning inventory Jan. 1 |
100 units at$8 per unit |
|
Jan. 10 purchase |
320 units at $13 |
|
Jan. 22 purchase |
120 units at$14 per unit |
At January 31,
230
units are still on hand. What is the cost of the ending inventory at January 31 if Thelen uses the LIFO method?
Homework Answers
LIFO Method
Ending units= (100*$8+130*$13)= $2490
If LIFO method is used, Cost of the ending inventory at January 31= $2490
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Thelen's inventory records show the following data at January
31:
Beginning inventory Jan. 1
100
units...
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Thelen's inventory records show the following data at January 31 Beginning inventory Jan. 1 Jan. 10...
Thelen's inventory records show the following data at January 31 Beginning inventory Jan. 1 Jan. 10 purchase Jan 22 purchase 90 units at $9 per unit 280 units at $12 per unit 90 units at $13 per unit At January 31, 240 units are still on hand. What is the cost of the ending inventory at January 31 if Thelen uses the LIFO method? OA. 52,160 OB. 52,610 OC. $2,760 OD. 53,120
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Tomasino's inventory records show the following data at January 31 Beginning inventory Jan. 1 Jan. 10...
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need help with this problem - thank you Tomasino's inventory records show the following data at...
need help with this problem - thank you
Tomasino's inventory records show the following data at January 31: Beginning inventory Jan. 1 Jan. 10 purchase Jan. 22 purchase 90 units at $9 per unit 300 units at $11 per unit 90 units at $12 per unit At January 31, 210 units are still on hand. What is the cost of the ending inventory at January 31 if Tomasino uses the FIFO method? O A. $2,250 O B. $1,890 OC. $2,400...
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Thelen's inventory records show the following data at January 31 Beginning inventory Jan. 1 Jan. 10 purchase Jan 22 purchase 90 units at $9 per unit 280 units at $12 per unit 90 units at $13 per unit At January 31, 240 units are still on hand. What is the cost of the ending inventory at January 31 if Thelen uses the LIFO method? OA. 52,160 OB. 52,610 OC. $2,760 OD. 53,120
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need help with this problem - thank you
Tomasino's inventory records show the following data at January 31: Beginning inventory Jan. 1 Jan. 10 purchase Jan. 22 purchase 90 units at $9 per unit 300 units at $11 per unit 90 units at $12 per unit At January 31, 210 units are still on hand. What is the cost of the ending inventory at January 31 if Tomasino uses the FIFO method? O A. $2,250 O B. $1,890 OC. $2,400...
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