Answer:
$45,500 is the correct answer.
Explanation:
Answer:
the sale of Bert's stock in Altogether Now
Explanation:
Article 2 of the Uniform Commercial Code (UCC) only applies to commercial transactions involving tangible personal property. A car, a bike, and a vinyl record collection are all tangible personal properties, but a company's stock is not.
The Last-In, First-Out (LIFO) inventory costing method assumes that items in ending inventory are the most recently acquired.
<h3>What is LIFO and FIFO methods of inventory?</h3>
LIFO refers to the Last In, First Out. LIFO is a method that assumes that the last unit that has been added in the inventory or more recently, will be sold first.
FIFO stands for First In, First Out. FIFO method assumes that the oldest unit of inventory that has been added first, would be sold first.
Basically, FIFO and LIFO accounting are the inventory costing methods used in managing inventory.
Learn more about LIFO and FIFO here:-
brainly.com/question/17236535
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