16. Oscar Industries has the following inventory information. July 1 Beginning Inventory 40 units at $110...

Question

Question

business accounting

Answer 1

Answer #1

Ending Inventory = $10,000

Working

LIFO
Total Units Available for sale		400
Units Sold		310
Closing Stock in Units		90

Valuation
Ending Inventory	40	@	$ 110.00	$ 4,400
	50	@	$ 112.00	$ 5,600

Value Of Ending Inventory				$ 10,000

Cost of Goods sold				$ 35,080

.

Answer 2

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