LIFO stands for Last in First out, essentially stating that the most recent products produced or purchased are the first to be sold or expensed. So lets list the quantity, dates, and prices in an ordered fashion.
June 1: 150 units $825
June 10: 200 units $1,120
June 15: 200 units $1,140
June 28: 150 units $885
Total: $3,970
What we know from the question is that only 200 units arrived. This plus the fact that we know we must use the LIFO method means that only the first 200 units arrived. So we get rid of every other unit cost in order to find ending inventory. So, lets find what's left.
150 units from June 1st: $825
50 units from June 10th: $1,120 / 200 = $5.6 per unit * 50 units = $280
$825 + $280 = $1,105
This means that the answer is going to be A - $1,105.
I hope I've helped! :)
Answer:
Explanation:It helps consumers by letting them know what they are eating in case some of them have allergies, medical issues, or are on a diet.
Answer: Previous chemical fires at factories and exposure to toxic landfill
Explanation: I just took this test :)
Answer:when the verdict of a case is challenged and asked to be reviewed by a higher court it is called an appeal. The higher courts look for the evidence for the reason the defendant was guilty
Explanation:
The car that gets there first has the right of way. If the cars arrive at the same time, the rightmost car has the right of way.
