Westcoast Purveyors had 339 computer system in stock at the end of the year. Inventory records show the following information: Date Qty Cost Total Cost January 1 Beginning Inventory 50 $1,458 $72,900 June 21 Purchase 50 1,122 56,100 August 1 Purchase 300 894 268,200 October 23 Purchase 200 1,146 229,200 November 16 Purchase 100 1,434 143,400 Total available for sale 700 $769,800 Using the LIFO method of inventory pricing, calculate the dollar value of the ending inventory.

Westcoast Purveyors had 339 computer system in stock at the end of the year. Inventory records show the following information: Date Qty Cost Total Cost January 1 Beginning Inventory 50 $1,458 $72,900 June 21 Purchase 50 1,122 56,100 August 1 Purchase 300 894 268,200 October 23 Purchase 200 1,146 229,200 November 16 Purchase 100 1,434 143,400 Total available for sale 700 $769,800 Using the LIFO method of inventory pricing, calculate the dollar value of the ending inventory.

Name: Westcoast Purveyors had 339 computer system in stock at the end of the
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Description: Westcoast Purveyors had 339 computer system in stock at the end of the year. Inventory records show the following information:DateQtyCostTotal CostJanuary 1Beginning Inventory50$1,458$72,900June 21Purchase501,12256,100August 1Purchase300894268,200Oct

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 67P

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Date	Qty	Cost	Total Cost
January 1	Beginning Inventory	50	$1,458	$72,900
June 21	Purchase	50	1,122	56,100
August 1	Purchase	300	894	268,200
October 23	Purchase	200	1,146	229,200
November 16	Purchase	100	1,434	143,400
Total available for sale	700		$769,800

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