Question: Is this answer correct ? for LIFO? CASCO Sales Inc. had a beginning inventory of May comprising of 700 units that had a cost of

Is this answer correct ? for LIFO? CASCO Sales Inc. had

Is this answer correct ? for LIFO?

CASCO Sales Inc. had a beginning inventory of May comprising of 700 units that had a cost of $80/unit. A summary of purchases and sales during the month of May are as follows: Units Unit Cost Purchased Date Units sold 400 $83 1,200 900 May 2 May 6 May 10 May 19 May 23 May 30 $85 800 500 $88 300 Assume that CAISCO Sales Inc. uses a periodic inventory system. What is the value of ending inventory using LIFO? Multiple Choice $99,600

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