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Consider the following information for this question:                  September 1              &nb

Consider the following information for this question:

                 September 1                               Inventory       10 @ $2.00

                              8    Purchased                               40 @ $2.20

                                 17   Purchased                                20 @ $2.10

                                 25   Purchased                                30 @ $2.40

                                                            Units Sold: 70

Assume that of the 70 units sold, 5 units were sold on Sept. 5, 30 were sold on Sept. 15, 25 were sold on Sept. 20, and 10 were sold on Sept. 30. Calculate ENDING INVENTORY (NOT Cost of Goods Sold) under LIFO method, assuming that the PERPETUAL inventory system is used:

a. $154.00.

b. $69.00.

c. $67.00.

d. $156.00.
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Last-in, First-out Method Sales Purchases Balance Date Cost per Cost per Units Total Units Total Units Total unit unit 10 20

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