Glasgow Enterprises started the period with 80 units in beginning inventory that cost $2.10 each. During the period, the company purchased inventory items as follows: Glasgow sold 360 units after purchase 3 for $8.40 each.
What isGlasgow's ending inventory under LIFO?
A)$775
B)$675
C)$610
D)$525

Question

Glasgow Enterprises started the period with 80 units in beginning inventory that cost $2.10 each. During the period, the company purchased inventory items as follows:  Glasgow sold 360 units after purchase 3 for $8.40 each.
What isGlasgow's ending inventory under LIFO?
A)$775 
B)$675 
C)$610 
D)$525

Quizplus · Accepted Answer

The Answer of Glasgow Enterprises started the period with 80 units in beginning inventory that cost $2.10 each. During the period, the company purchased inventory items as follows:  Glasgow sold 360 units after purchase 3 for $8.40 each.
What isGlasgow's ending inventory under LIFO?
A)$775 
B)$675 
C)$610 
D)$525

Glasgow Enterprises Started the Period with 80 Units in Beginning