The total inventory is 200 + 300 + 400 + 100 = 1000. If 300 units remained, the we calculate the cost of the 700 sold via LIFO. These 700 units include the 100 units at $12.00, the 400 units at $11.00, and 200 units at $10.00 (out of the 300 purchased). This is a total cost of 100*12 + 400*11 + 200*10 = 1200 + 4400 + 2000 = $7600.
The answers:
#1 C
#2 H maybe
#3 C
#4 H or J
17.24
Since 7 comes after 5 we need to round to the next number.....18.00
17.24 rounded to ones = 18.00
Hope I helped:P
