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Crane Solutions Company just began business and made the following four inventory purchases in June: June 1 189 units $1134 June 10 252 units 1764 June 15 252 units 2016 June 28 189 units 1701 $6615 The company uses a periodic inventory system. A physical count of merchandise inventory on June 30 reveals that there are 252 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is O $1512. O $1575. O $2205. O $2268.

Crane Solutions Company just began business and made the following four inventory purchases in June: June 1 189 units $1134 June 10 252 units 1764 June 15 252 units 2016 June 28 189 units 1701 $6615 The company uses a periodic inventory system. A physical count of merchandise inventory on June 30 reveals that there are 252 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is O $1512. O $1575. O $2205. O $2268.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Crane Solutions Company just began business and made the following four inventory purchases in June: June 1 189 units $1134 June 10 252 units 1764 June 15 252 units 2016 June 28 189 units 1701 $6615 The company uses a periodic inventory system. A physical count of merchandise inventory on June 30 reveals that there are 252 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is O $1512. O $1575. O $2205. O $2268.
Transcribed Image Text:Crane Solutions Company just began business and made the following four inventory purchases in June: June 1 189 units $1134 June 10 252 units 1764 June 15 252 units 2016 June 28 189 units 1701 $6615 The company uses a periodic inventory system. A physical count of merchandise inventory on June 30 reveals that there are 252 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is O $1512. O $1575. O $2205. O $2268.
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