Delightful Discs has the following inventory data: Nov, 1 Inventory 30 units @ $6.00 each Nov...
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Delightful Discs has the following inventory data: Nov, 1 Inventory 30 units @ $6.00 each Nov 8 Purchase 120 units @ S6.45 each Nov 17 Purchase 60 units @ $6.30 each Nov 25 Purchase 90 units @ $6.60 each A physical count of merchandise inventory on November 30 reveals that there are 100 units on hand. Ending inventory under LIFO periodic inventory system is: Select one: A. $632 B. $657 O C S1.269 Delightful Discs has the following inventory data: Nov, 1 Inventory 30 units @ $6.00 each Nov 8 Purchase 120 units @ S6.45 each Nov 17 Purchase 60 units @ $6.30 each Nov 25 Purchase 90 units @ $6.60 each A physical count of merchandise inventory on November 30 reveals that there are 100 units on hand. Ending inventory under LIFO periodic inventory system is: Select one: A. $632 B. $657 O C S1.269
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Solution The correct answer is 657 Explanation In LIFO the last in u... View the full answer
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