Question: July 1 Beginning inventory 10 units at $ 90 5 Purchases 60 units @ $ 84 14 Sale 45 units 21 Purchases 30 units @
July 1 Beginning inventory 10 units at $ 90
5 Purchases 60 units @ $ 84
14 Sale 45 units
21 Purchases 30 units @ $ 87
30 Sale 30 units
| Assuming that a perpetual inventory system is used, what is the ending inventory on a FIFO basis? | |
| A) | $2,748 |
| B) | $2,754 |
| C) | $2,175 |
| D) | $5,796 |
| Assuming that a perpetual inventory system is used, what is the ending inventory on a LIFO basis? | |
| A) | $2,748 |
| B) | $2,754 |
| C) | $2,160 |
| D) | $5,796 |
| Assuming that a perpetual inventory system is used, what is the ending inventory (rounded) under the average-cost method? | |
| A) | $2,750 |
| B) | $2,151 |
| C) | $2,406 |
| D) | $2,772 |
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