Question

Vaughn has the following inventory data:

July 1		Beginning inventory		31 units at $61
5		Purchases		184 units at $57
14		Sale		122 units
21		Purchases		92 units at $59
30		Sale		86 units

Assuming that a perpetual inventory system is used, what is the ending inventory on a LIFO basis for July?

Answer 1

LIFO basis 187 Tuly 37 Kaughn Calculoting the ending Inventay peorchases units price Total $ cenits prics PUS) Issues Rarticulos Balance Date pricsTotal ($) P.$) Fatal ($ | units 61 1-Tuly begiming Inventory 1891 31 1891 GI 31 57 10488 (84 S- Tuly purchabes 57 184 10488 1891 61 57 6954 31 122 14- July dale 3534 57 1891 3534 31 5428 2+ Iuly Rorchoses 59 92 57 62 59 92 31 S428 1891 5074 6 1 86 59 30-July dale 3534 354 59 Scanned with CS CamScanner

Ending Inventay= 1891+ 35 34 +354 =5779 1891+3534 +3 54 for 99units EScanned with no 020 CS CamScanner
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