The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Fiskie, Inc., for an operating period.

-Assuming Fiskie, Inc., uses LIFO periodic inventory procedures, the ending inventory cost is:
A) $1,056
B) $1,080
C) $1,272
D) $1,488
E) None of the above

Question

The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Fiskie, Inc., for an operating period. 
 
-Assuming Fiskie, Inc., uses LIFO periodic inventory procedures, the ending inventory cost is:
A) $1,056 
B) $1,080 
C) $1,272 
D) $1,488 
E) None of the above

Quizplus · Accepted Answer

The Answer of The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Fiskie, Inc., for an operating period. 
 
-Assuming Fiskie, Inc., uses LIFO periodic inventory procedures, the ending inventory cost is:
A) $1,056 
B) $1,080 
C) $1,272 
D) $1,488 
E) None of the above

The Following Data Represent the Beginning Inventory And, in Order