LuCo begins operations in 20X4 and uses the periodic method and LIFO costing. Its merchandise purchases...

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LuCo begins operations in 20X4 and uses the periodic method and LIFO costing. Its merchandise purchases are as follows: March July September November 20X4 300 @ $4 500 @ $5 200 @ $7 400 @ $6 20X5 600 @ $ 8 900 @ $12 100 @ $ 9 700 @ $10 20X6 900 @ $11 600 @ $14 700 @ $13 100 @ $16 30. If LuCo sells 900 units in 20X4, its December 31, 20X4 ending inventory of 500 units is... 31. If, instead, LuCo's has 200 units in its December 31, 20X4 ending inventory and 500 units in its December 31, 20X5 ending inventory, then its December 31, 20X5 inventory is 32. Assume, instead, that LuCo's December 31, 20X4 ending inventory is 300 units; its December 31, 20X5 ending inventory is 200 units (which is lower than it 20X5 beginning inventory); and its December 31, 20X6 ending inventory is 700 units. What is LuCo's December 31, 20X6 inventory? LuCo begins operations in 20X4 and uses the periodic method and LIFO costing. Its merchandise purchases are as follows: March July September November 20X4 300 @ $4 500 @ $5 200 @ $7 400 @ $6 20X5 600 @ $ 8 900 @ $12 100 @ $ 9 700 @ $10 20X6 900 @ $11 600 @ $14 700 @ $13 100 @ $16 30. If LuCo sells 900 units in 20X4, its December 31, 20X4 ending inventory of 500 units is... 31. If, instead, LuCo's has 200 units in its December 31, 20X4 ending inventory and 500 units in its December 31, 20X5 ending inventory, then its December 31, 20X5 inventory is 32. Assume, instead, that LuCo's December 31, 20X4 ending inventory is 300 units; its December 31, 20X5 ending inventory is 200 units (which is lower than it 20X5 beginning inventory); and its December 31, 20X6 ending inventory is 700 units. What is LuCo's December 31, 20X6 inventory?

Answer rating: 100% (QA)

Lets calculate the ending inventory for each scenario Scenario 1 LuCo sells 900 units in 20X4 and the December 31 20X4 ending inventory is 500 units L... View the full answer