Question: The following data represent the beginning inventory and, in the order of occurrence, the purchases and sales of Mullenax Company for an operating period. 4.

The following data represent the beginning inventory and, in the order of occurrence, the purchases and sales of Mullenax Company for an operating period.

4. Assuming Mullenax Company uses LIFO periodic inventory, the ending inventory cost is:

A) $7,380

B) $9,620

C) $8,420

D) $8,400

Units

Unit Cost

Total Cost

Units Sold

Beginning Inventory

20

$88

$ 1,760

Purchase No. 1

20

93

1,860

Sale No. 1

30

Purchase No. 2

90

96

8,640

Sale No. 2

80

Purchase No. 3

70

110

7,700

___

Totals

200

$19,960

110

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!