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The Units of an Item Available for Sale During the Year

Question 190

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The units of an item available for sale during the year were as follows:?  Jan. 1 Inventory             10 units at $25 Apr. 4 Purchase 15 units at $24 May 20 Purchase 20 units at $28 Oct 30 Purchase 18 units at $30\begin{array}{ccccc}\text { Jan. } 1 & \text { Inventory } &\quad~~~~~~~~~~~~&& 10 \text { units at } \$ 25 \\\text { Apr. } 4 & \text { Purchase } &&& 15 \text { units at } \$ 24 \\\text { May } 20 & \text { Purchase } &&& 20 \text { units at } \$ 28 \\\text { Oct } 30 & \text { Purchase } &&& 18 \text { units at } \$ 30 \\\end{array} There are 19 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost using LIFO.

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$466 (10 ...

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