Question: Using the following information for 13 through 17, calculate the ending inventory under the following costing methods. A physical count revealed 200 units on hand

Using the following information for 13 through 17, calculate the ending inventory under the following costing

methods. A physical count revealed 200 units on hand as of 4/30. LIFO

Beginning inventory 500 units @ $2.40 = $1,200

4/20 purchase 400 units @ $2.50 = $1,000

900 $2,200

Question 13 options:

a)

$500

b)

$489

c)

$470

d)

$480

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