A company has inventory of 11 units at a cost of 10 each on

Reference no: EM13484440

1.A company had inventory on November 1 of 4 units at a cost of $16 each. On November 2, they purchased 7 units at $27 each. On November 6 they purchased 5 units at $25 each. On November 8, 8 units were sold for $59 each. Using the LIFO perpetual inventory method, what was the value of the inventory on November 8 after the sale?
$253

$162

$944

$189

$172

2.A company has inventory of 14 units at a cost of $10 each on July 1. On July 5, they purchased 12 units at $13 per unit. On July 12 they purchased 20 units at $16 per unit. On July 15, they sold 30 units. Using the FIFO perpetual inventory method, what is the value of the inventory at July 15 after the sale?

$140

$132

$256

$272

$331

3.A company has inventory of 11 units at a cost of $10 each on September 1. On September 5, they purchased 5 units at $14 per unit. On September 12 they purchased 19 units at $16 per unit. On September 15, they sold 30 units. Using the FIFO periodic inventory method, what is the value of the inventory at September 15 after the sale?
$106

$304

$80

$560

$256

Reference no: EM13484440

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