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

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

Quizplus · Accepted Answer

(15 x $172) + (5 x $164) + (5 x $160) = $4,200

Use the Following Information to Answer