Bonkers Bananas has the following inventory data: July 1 Beginning inventory 42 units at $21 $882...
Bonkers Bananas has the following inventory data:
| July 1 | Beginning inventory | 42 units at $21 | $882 | |||
| 7 | Purchases | 148 units at $22 | 3256 | |||
| 22 | Purchases | 21 units at $23 | 483 | |||
| $4621 |
A physical count of merchandise inventory on July 30 reveals that
there are 53 units on hand. Using the LIFO inventory method, the
amount allocated to ending inventory for July is
| $1187. |
| $1219. |
| $1124. |
| $1113 |
Homework Answers
Ending inventory value : $1,124
42 units at $21 = $882
11 units at $22 = $242
Total $1,124
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Bonkers Bananas has the following inventory data:
July 1
Beginning inventory
42 units at $21
$882...
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Question 10 (10 points) July 1 Beginning Inventory.. 20 units $20 7 8 S July 7.Purchases...
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