The following units of an inventory item were available for sale during the year:

The firm uses the periodic inventory system.During the year,60 units of the item were sold.
The value of ending inventory using LIFO is:
A)$1,250
B)$1,350
C)$1,375
D)$1,150

Question

The following units of an inventory item were available for sale during the year:

The firm uses the periodic inventory system.During the year,60 units of the item were sold.
The value of ending inventory using LIFO is:
A)$1,250 
B)$1,350 
C)$1,375 
D)$1,150

Quizplus · Accepted Answer

The Answer of The following units of an inventory item were available for sale during the year:

The firm uses the periodic inventory system.During the year,60 units of the item were sold.
The value of ending inventory using LIFO is:
A)$1,250 
B)$1,350 
C)$1,375 
D)$1,150

The Following Units of an Inventory Item Were Available for Sale