Singleton Company's perpetual inventory records included the following information:
If Singleton uses the LIFO cost flow method, its ending inventory would be $1,260.

Name: Singleton Company's perpetual inventory records included the following information: If Singleton uses the LIFO cost flow method, its ending inventory would be $1,260.
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Question

Singleton Company's perpetual inventory records included the following information:
  If Singleton uses the LIFO cost flow method, its ending inventory would be $1,260.

Quizplus · Accepted Answer

200 + 150 + 350 = 700 units available for sale - 520 units sold = 180 units in ending inventory; 180 units × $7.00 = $1,260 ending inventory

Singleton Company's Perpetual Inventory Records Included the Following Information