At year-end,Venus restates the carrying value of its inventory using periodic LIFO costing procedures.Under periodic costing procedures,the LIFO cost of the inventory is:
A)$9,800.
B)$10,600.
C)$10,800.
D)$8,000.

Question

Quizplus · Accepted Answer

The LIFO cost of the inventory is the cost of the most recent purchases. In this case, the most recent purchases were made at a cost of $9,800.

At Year-End,Venus Restates the Carrying Value of Its Inventory Using