Javon Corp. had a beginning inventory of 300 cans of paint on January 1, at a cost of $2,100. During the year, the following purchases were made:
$$\begin{array} { | l | l | }
\hline \text { February } 15 & 200 \text { cans at } \$ 8 \text { each } \
\hline \text { May } 5 & 250 \text { cans at } \$ 10 \text { each } \
\hline \text { December } 8 & 100 \text { cans at } \$ 12 \text { each } \
\hline
\end{array}$$ Assuming 310 cans were left in inventory, what is the cost of ending inventory under the LIFO method?

Question

Javon Corp. had a beginning inventory of 300 cans of paint on January 1, at a cost of $2,100. During the year, the following purchases were made:
 $$\begin{array} { | l | l | } 
\hline \text { February } 15 & 200 \text { cans at } \$ 8 \text { each } \
\hline \text { May } 5 & 250 \text { cans at } \$ 10 \text { each } \
\hline \text { December } 8 & 100 \text { cans at } \$ 12 \text { each } \
\hline
\end{array}$$ Assuming 310 cans were left in inventory, what is the cost of ending inventory under the LIFO method?

Quizplus · Accepted Answer

The Answer of Javon Corp. had a beginning inventory of 300 cans of paint on January 1, at a cost of $2,100. During the year, the following purchases were made:
 $$\begin{array} { | l | l | } 
\hline \text { February } 15 & 200 \text { cans at } \$ 8 \text { each } \
\hline \text { May } 5 & 250 \text { cans at } \$ 10 \text { each } \
\hline \text { December } 8 & 100 \text { cans at } \$ 12 \text { each } \
\hline
\end{array}$$ Assuming 310 cans were left in inventory, what is the cost of ending inventory under the LIFO method?

Javon Corp Assuming 310 Cans Were Left in Inventory, What Is the Paint