Question: Question Content Area Addison, Inc. uses a perpetual inventory system. Below is information about one inventory item for the month of September. Sep. 1 Inventory

  1. Question Content Area

    Addison, Inc. uses a perpetual inventory system. Below is information about one inventory item for the month of September.

    Sep. 1 Inventory 20 units at $20
    4 Sold 10 units
    10 Purchased 30 units at $25
    17 Sold 20 units
    30 Purchased 10 units at $30

    If Addison uses LIFO, the September 30 inventory balance is

    a.$700

    b.$800

    c.$750

    d.$650

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