Windrose,Inc.uses a periodic inventory system and its inventory records contain the following information: The company sold 2,000 units during June.There were no additional purchases or sales during the remainder of the year.The company had 1,000 units were in its ending inventory at the end of the year.
If Windrose uses the LIFO costing method,what is the cost of its ending inventory?
A)$2,730
B)$2,988
C)$3,240
D)$5,670

Question

Windrose,Inc.uses a periodic inventory system and its inventory records contain the following information:  The company sold 2,000 units during June.There were no additional purchases or sales during the remainder of the year.The company had 1,000 units were in its ending inventory at the end of the year.
If Windrose uses the LIFO costing method,what is the cost of its ending inventory?
A)$2,730 
B)$2,988 
C)$3,240 
D)$5,670

Quizplus · Accepted Answer

The Answer of Windrose,Inc.uses a periodic inventory system and its inventory records contain the following information:  The company sold 2,000 units during June.There were no additional purchases or sales during the remainder of the year.The company had 1,000 units were in its ending inventory at the end of the year.
If Windrose uses the LIFO costing method,what is the cost of its ending inventory?
A)$2,730 
B)$2,988 
C)$3,240 
D)$5,670