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What is the value of the ending inventory

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Reference no: EM133040298

Question - Concord Corporation uses a periodic inventory system. Details for the inventory account for the month of January 2022 are as follows:

 

Units

Per unit price

Total

Balance, 1/1/2022

240

4.00

$960

Purchase, 1/15/2022

120

4.20

$504

Purchase, 1/28/2022

120

4.40

$528

Required - An end-of-the-month (1/31/2022) inventory showed that 190 units were on hand. If the company uses LIFO, what is the value of the ending inventory?

Reference no: EM133040298

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