Davis Co. had the following inventory activity during April: Units Unit Cost 100 $8 Beginning inventory...

 

Transcribed Image Text:

Davis Co. had the following inventory activity during April: Units Unit Cost 100 $8 Beginning inventory Purchase (April 3) 60 112 12 Sale (April 10) 80 Purchase (April 18) 50 50 15 Purchase (April 23) 80 18 Sale (April 28) 100 Assuming Davis uses a periodic LIFO cost flow assumption, ending inventory at April 30 would be Davis Co. had the following inventory activity during April: Units Unit Cost 100 $8 Beginning inventory Purchase (April 3) 60 112 12 Sale (April 10) 80 Purchase (April 18) 50 50 15 Purchase (April 23) 80 18 Sale (April 28) 100 Assuming Davis uses a periodic LIFO cost flow assumption, ending inventory at April 30 would be

Answer rating: 100% (QA)

To calculate the ending inventory using the periodic LIFO Last In First Out cost flow assumption we ... View the full answer