Oriole Company just began business and made the following four inventory purchases in June June 1 174 units $ 1044 June 10 232 units 1624 June 15 232 units 1856 June 28 174 units 1566 $ 6090 A physical count of merchandise inventory on June 30 reveals that there are 232 units on hand Using the LIFO...

Solution The correct answer is d 1450 Explanation A physi ...

Oriole Company just began business and made the following four inventory purchases in June: June 1 174

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Oriole Company just began business and made the following four inventory purchases in June:

June 1	174 units	$1044
June 10	232 units	1624
June 15	232 units	1856
June 28	174 units	1566
		$6090

A physical count of merchandise inventory on June 30 reveals that there are 232 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is

$2088.$1392.$2030.$1450.

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College Accounting

ISBN: 978-0538745192

20th Edition

Authors: Heintz and Parry

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Posted Date: Feb 07, 2022 02:38 PM

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Oriole Company just began business and made the following four inventory purchases in June: June 1 174

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Solution The correct answer is d 1450 Explanation A physi... View the full answer

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