Eller Company uses a periodic inventory system. Relevant inventory information for the year follows:
At year-end, 50 units remain in inventory. What is the cost of the ending inventory on a LIFO basis?
A) $7,950
B) $7,100
C) $8,750
D) $8,450

Question

Eller Company uses a periodic inventory system. Relevant inventory information for the year follows:  
At year-end, 50 units remain in inventory. What is the cost of the ending inventory on a LIFO basis?
A) $7,950 
B) $7,100 
C) $8,750 
D) $8,450

Quizplus · Accepted Answer

The Answer of Eller Company uses a periodic inventory system. Relevant inventory information for the year follows:  
At year-end, 50 units remain in inventory. What is the cost of the ending inventory on a LIFO basis?
A) $7,950 
B) $7,100 
C) $8,750 
D) $8,450

Eller Company Uses a Periodic Inventory System