Homework Answers
Ending Inventory = $55,280
Working
| LIFO | |||||||||
| Purchases | Sales | Balance | |||||||
| Units | Rate | Amount | Units | Rate | Amount | Units | Rate | Amount | |
| 1 jan .. | 240 | $ 73.00 | $ 17,520.00 | ||||||
| Mar10.. | 80 | $ 73.00 | $ 5,840.00 | 160 | $ 73.00 | $ 11,680.00 | |||
| June 10.. | 720 | $ 80.00 | $ 57,600.00 | 160 | $ 73.00 | $ 11,680.00 | |||
| 720 | $ 80.00 | $ 57,600.00 | |||||||
| Oct 30.. | 175 | $ 80.00 | $ 14,000.00 | 160 | $ 73.00 | $ 11,680.00 | |||
| 545 | $ 80.00 | $ 43,600.00 | |||||||
| Total | 705 | $ 55,280 | |||||||
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