Homework Answers
Begining inventory was 20 units at $74
In march 10 it sold 18 units
Sales was 18x$74=$1332
Balance on march 10 was 2 units of $74
In June 10 purchased 40 units at $84
October 30, sold 34 units
Sales was 34x$84=2856
the ending balance at 31st dec was 2 unit at $74 and 6 units at $ 84
BUT,since the company is using periodic LIFO method the inventory would costed using earliest purchasing cost
The ending merchandise inventory would be= 8x$74=$592
The answer will be D. 592
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