pitcheer358
New member
- Oct 2, 2008
- 3
- 0
- 1
...commodity were available for sale? during the year:
beginning inventory--10 units at $60
first purchase--25 units at $63
second purchase--30 units at $64
third purchase--10 units at $70
the firm uses the periodic system and there are 20 units of the commodity on hand at the end of the year. what is the amount of inventory at the end of the year accoding to the last in, first out mehod?
a. $1,240
b.$1,340
c.$1,230
d. $1,220
beginning inventory--10 units at $60
first purchase--25 units at $63
second purchase--30 units at $64
third purchase--10 units at $70
the firm uses the periodic system and there are 20 units of the commodity on hand at the end of the year. what is the amount of inventory at the end of the year accoding to the last in, first out mehod?
a. $1,240
b.$1,340
c.$1,230
d. $1,220