Required information SB Beech Soda, Inc. uses a perpetual inventory... Beech Soda, Inc. uses a perpetual...

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Required information SB Beech Soda, Inc. uses a perpetual inventory... Beech Soda, Inc. uses a perpetual inventory system. Th

business accounting

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Answer 1

Answer #1

$726.

working:

since LIFO is used out of 29 units sold on january 14, 16 units will be from jan 11 purchase.

and remaining units 29-16 =>13 units will be from beginning inventory.

so 34 units of ending inventory, (20-13 sold)=>7 units will be from beginning inventory.

=>7 units *15 =>$105.

27 units will be from Jan 20 purchases =>27 units *$23=>$621.

so value of LIFO will be = $105+621

=>$726.

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Answer 2

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