Calculate the ending inventory using LIFO for a company that uses a perpetual inventory system,using the information given below.
$$\begin{array} { | l | c | r | }
\hline & \text { Units } & \text { Unit Cost } \
\hline \text { Beginning inventory } & 100 & \$ 10 \
\hline \text { Aug. 5 purchased } & 40 & 12 \
\hline \text { Aug. 10 sold } & 60 & -\
\hline \text { Aug. 15 purchased } & 70 & 13 \
\hline \text { Aug. 25 sold } & 50 &- \
\hline
\end{array}$$

Question

Calculate the ending inventory using LIFO for a company that uses a perpetual inventory system,using the information given below.
 $$\begin{array} { | l | c | r | } 
\hline & \text { Units } & \text { Unit Cost } \
\hline \text { Beginning inventory } & 100 & \$ 10 \
\hline \text { Aug. 5 purchased } & 40 & 12 \
\hline \text { Aug. 10 sold } & 60 & -\
\hline \text { Aug. 15 purchased } & 70 & 13 \
\hline \text { Aug. 25 sold } & 50 &- \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Calculate the ending inventory using LIFO for a company that uses a perpetual inventory system,using the information given below.
 $$\begin{array} { | l | c | r | } 
\hline & \text { Units } & \text { Unit Cost } \
\hline \text { Beginning inventory } & 100 & \$ 10 \
\hline \text { Aug. 5 purchased } & 40 & 12 \
\hline \text { Aug. 10 sold } & 60 & -\
\hline \text { Aug. 15 purchased } & 70 & 13 \
\hline \text { Aug. 25 sold } & 50 &- \
\hline
\end{array}$$

Calculate the Ending Inventory Using LIFO for a Company That