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.

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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Date	Transaction	Number of Units	Unit Cost
April 1	Beginning Inventory	410	$ 2.13
April 20	Purchase	410	2.68

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