Inventory records for Capetown, Incorporated revealed the following: Date Transaction Number of Units Unit Cost April 1 Beginning Inventory 410 $ 2.13 April 20 Purchase 410 2.68 Capetown sold 580 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.) Multiple Choice $511. $643. $1,099. $873.
Inventory records for Capetown, Incorporated revealed the following: Date Transaction Number of Units Unit Cost April 1 Beginning Inventory 410 $ 2.13 April 20 Purchase 410 2.68 Capetown sold 580 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.) Multiple Choice $511. $643. $1,099. $873.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Inventory records for Capetown, Incorporated revealed the following:
Date | Transaction | Number of Units | Unit Cost |
---|---|---|---|
April 1 | Beginning Inventory | 410 | $ 2.13 |
April 20 | Purchase | 410 | 2.68 |
Capetown sold 580 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.)
Multiple Choice
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