The units of an item available for sale during the year were as follows: 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.

Question

The units of an item available for sale during the year were as follows:  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.

Quizplus · Accepted Answer

The Answer of The units of an item available for sale during the year were as follows:  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.

The Units of an Item Available for Sale During the Year