A Company Reports The Following Beginning Inventory And 2 Purchases For The Month Of January. On January 26, The Company Sells 350 Units. Ending Inventory At January 31 Totals 150 Units Units Unit Cost Beginning Inventory 320 Units $10.00 Purchases On January 9 80 5.20 Purchases On January 25 100 5.54 Required Assume The Perpetual Inventory System Is Used. Determine The Costs Assigned To The Ending Inventory When Costs Are Assigned Based On: The LIFO Method

A company reports the following beginning inventory and 2 purchases for the month of January. On January 26, the company sells 350 units. Ending inventory at January 31 totals 150 units Units Unit Cost Beginning Inventory 320 units $10.00 Purchases on January 9 80 5.20 Purchases on January 25 100 5.54 Required Assume the perpetual inventory system is used. Determine the costs assigned to the ending inventory when costs are assigned based on: The LIFO Method

- November 14, 2022 - Edwin Tunner

A company reports the following beginning inventory and 2 purchases for the month of January.

On January 26, the company sells 350 units.

Ending inventory at January 31 totals 150 units

	Units	Unit Cost
Beginning Inventory	320 units	$10.00
Purchases on January 9	80	5.20
Purchases on January 25	100	5.54

Required

Assume the perpetual inventory system is used. Determine the costs assigned to the ending inventory when costs are assigned based on:

The LIFO Method

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