Assume Ava Co. has the following purchases of inventory during the first month of operations Number of Units Cost per unit 115 3.0 110 4.6 First Purchase Second Purchase Assuming Ava Co sells 155 units at $12 each, what is the ending balance in the inventory account if they use LIF

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Assume Ava Co. has the following purchases of inventory during the first month of operations
Number of Units
Cost per unit
115
3.0
110
4.6
First Purchase
Second Purchase
Close
Assuming Ava Co sells 155 units at $12 each, what is the ending balance in the inventory account if they use LIFO?
Transcribed Image Text:Assume Ava Co. has the following purchases of inventory during the first month of operations Number of Units Cost per unit 115 3.0 110 4.6 First Purchase Second Purchase Close Assuming Ava Co sells 155 units at $12 each, what is the ending balance in the inventory account if they use LIFO?
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