Question

Inventory records for Dunbar Incorporated revealed the following:

Date Transaction Number ofUnits Unit Cost
Apr. 1 Beginning inventory 500 $2.13
Apr. 20 Purchase 310 2.63

Dunbar sold 620 units of inventory during the month. Ending inventory assuming LIFO would be (Do not round your intermediate calculations. Round your answer to the nearest dollar amount):

A. $815.
B. $405.
C. $1,065.
D. $500

Answer 1

Ending inventory assuming LIFO would be 405

Step-by-step explanation:

Date Q U.cost Cost Sold Inventory Cost

april 1 500 2,13 1065 310 190 405

apri 20 310 2,63 815,3 310 0 0

620