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

-Assuming McKensie Company uses LIFO periodic inventory procedures, the ending inventory cost is:
A) $2,610
B) $3,160
C) $3,130
D) $2,800
E) None of the above

Question

The following data represent the beginning inventory and, in the order of occurrence, the purchases and sales of McKensie Company for an operating period. 
 
-Assuming McKensie Company uses LIFO periodic inventory procedures, the ending inventory cost is:
A) $2,610 
B) $3,160 
C) $3,130 
D) $2,800 
E) None of the above

Quizplus · Accepted Answer

The Answer of The following data represent the beginning inventory and, in the order of occurrence, the purchases and sales of McKensie Company for an operating period. 
 
-Assuming McKensie Company uses LIFO periodic inventory procedures, the ending inventory cost is:
A) $2,610 
B) $3,160 
C) $3,130 
D) $2,800 
E) None of the above

The Following Data Represent the Beginning Inventory And, in the Order