Use the following information to answer:
The following data regarding purchases and sales of a commodity were taken from the perpetual inventory account of He Company:

-Using the perpetual LIFO method, what amount would be reported by He Company under Cost of Ending Inventory on May 31?

Question

Use the following information to answer:
The following data regarding purchases and sales of a commodity were taken from the perpetual inventory account of He Company:
 
-Using the perpetual LIFO method, what amount would be reported by He Company under Cost of Ending Inventory on May 31?

Quizplus · Accepted Answer

(5 x $125) + (5 x $123) + (15 x $127) = $3,145

Use the Following Information to Answer