Answer:
$16,440.
Explanation:
Please find attached the data used in answering this question
LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.
the ending inventory would consist of earlier purchased goods
total sales is 20800
total purchases = 26,000
ending inventory = 26,000 - 20800 = 5200
this price of the ending inventory = 3200 x 3.2) + (2000 x 3.1) = $16,440.
Answer: The answer has been attached
Explanation:
The income statement also referred to as the profit and loss account is a financial statements of a company that shows the revenues and the expenses of a company during a particular period.
The income statement for Ernst consulting has been attached.
