Question: Need help calculating LIFO basis? C I ML E Q X 4 0 M Q Q a ses.maine.edu/d21/le/content/347404/viewContent/9067954/View 1 tories 0:46:34 ela Question 8 (9.09

Need help calculating LIFO basis?

Need help calculating LIFO basis? C I ML E Q X 4Need help calculating LIFO basis? C I ML E Q X 4
C I ML E Q X 4 0 M Q Q a ses.maine.edu/d21/le/content/347404/viewContent/9067954/View 1 tories 0:46:34 ela Question 8 (9.09 points) Saved Assuming that perpetual inventory records are kept in dollars, what amount should be in the ending inventory if using the LIFO basis? Transactions for the month of June were: Purchases Sales June 1 (balance) 3,200a $3 20 June 2 2,400 @ $5 50 8,800 @ 3 10 6 6,400 a 5.50 4.800 @ 3 30 9 4.000 @ 5.50 15 7,200 @ 3 40 10 1,600 a 600 22 2:000 2 3 50 18 5.600 @ 600 25 850 @ 6 00 tion 16,985 . 17,160\f

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