Question: Lauer Corporation uses the periodic inventory system and has provided the following information about one of its laptop computers: Date Transaction Number of Units Cost

Lauer Corporation uses the periodic inventory system and has provided the following information about one of its laptop computers:

Date Transaction Number of Units Cost per Unit
1/1 Beginning Inventory 290 $ 990
5/5 Purchase 390 $ 1,090
8/10 Purchase 490 $ 1,190
10/15 Purchase 295 $ 1,240

During the year, Lauer sold 1,225 laptop computers. What was ending inventory using the LIFO cost flow assumption?

$237,600.

$257,600.

$297,100.

$297,600.

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