Question: Please help, I am not a 100% sure if everything is correct and if it needs more data filled. A company reports the following beginning
Please help, I am not a 100% sure if everything is correct and if it needs more data filled.
| A company reports the following beginning inventory and purchases for the month of January. On January 26, the company sells 300 units. 130 units remain in ending inventory at January 31. |
| Units | Unit Cost | ||
| Beginning inventory on January 1 | 270 | $ | 2.50 |
| Purchase on January 9 | 60 | 2.70 | |
| Purchase on January 25 | 100 | 2.84 | |
| Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. (Round your per unit costs to 2 decimal places.) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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