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Vitek1552 [10]
3 years ago
15

Unland Company uses a periodic inventory system. Details for the inventory account for the month of January 2017 are as follows:

Business
1 answer:
Wewaii [24]3 years ago
6 0

Answer:

Ending inventory= $1706

Explanation:

Giving the following information:

Units Per unit price Total

1/1/2017: 290 *$5.00=  $1450

1/15/2017: Purchase,  140*$5.10= $714

1/28/2017: Purchase,  140*$5.30= $742

At the end of the month (1/31/2017) inventory showed that 230 units. If the company uses LIFO (last-in, first-out)

Ending inventory= 140*5.30+140*5.10+50*5= $1706

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