Question: Determine the cost assigned to ending inventory using LIFO. Date Activities May 1 Beginning inventory May 5 Purchase May 10 Sales May 15 Purchase

Determine the cost assigned to ending inventory using LIFO. Date Activities May

Determine the cost assigned to ending inventory using LIFO. Date Activities May 1 Beginning inventory May 5 Purchase May 10 Sales May 15 Purchase May 24 Sales Units Acquired at Cost 150 units @ $10 $1,500 = 220 units @ $12 $2,640 = 100 units @ $13 = $1,300

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