Sylvia's Designs Co. had the following inventory activity during April: Unit Units Cost Beginning inventory Purchase (April 3) Sale (April 10) Purchase (April 18) Purchase (April 23) Sale (April 28) 100 $10 50 12 80 40 14 60 15 120 Assuming Sylvia's uses a periodic LIFO cost flow assumption, ending inventory for April would be a. $2,560 b. $ 750 c. $2,310 d. $ 500

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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9.
Sylvia's Designs Co. had the following inventory activity during April:
Unit
Units
100
Cost
$10
Beginning inventory
Purchase (April 3)
Sale (April 10)
Purchase (April 18)
Purchase (April 23)
Sale (April 28)
50
12
80
40
14
60
15
120
Assuming Sylvia's uses a periodic LIFO cost flow assumption, ending inventory for April would be
a. $2,560
b. $ 750
c. $2,310
d. $ 500
Transcribed Image Text:9. Sylvia's Designs Co. had the following inventory activity during April: Unit Units 100 Cost $10 Beginning inventory Purchase (April 3) Sale (April 10) Purchase (April 18) Purchase (April 23) Sale (April 28) 50 12 80 40 14 60 15 120 Assuming Sylvia's uses a periodic LIFO cost flow assumption, ending inventory for April would be a. $2,560 b. $ 750 c. $2,310 d. $ 500
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