Use the following data of Stingray Sales, Inc: Unit Cost 4 Total Cost 60 200 72...

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Use the following data of Stingray Sales, Inc: Unit Cost 4 Total Cost 60 200 72 Units Units 15 40 12 50 Sold Beginning inventory Purchase on Apr 25 Purchase on Nov 16 Sales Stingray Sales LIFO cost of ending inventory would be 2 OA. $97 O B. $84. O C. $70. O D. $300.

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Answer 1

Answer #1

	Units	rate	amount
Balance from April 25 purchase	2	$ 5	$ 10
Balance from beginning inventory	15	$ 4	$ 60
Ending inventory	17		$ 70

Answer is C. $70

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Use the following data of Stingray Sales, Inc: Unit Cost 4 Total Cost 60 200 72...

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