Merits,Inc.'s inventory activity in June was as follows:
Part A: Choose the column that represents the June financial statement where the line item will appear and fill in the dollar amount using the LIFO inventory method.
Part B: Choose the column that represents the June financial statement where the line item will appear and fill in the dollar amount using the FIFO inventory method.

Question

Merits,Inc.'s inventory activity in June was as follows:
  Part A: Choose the column that represents the June financial statement where the line item will appear and fill in the dollar amount using the LIFO inventory method.
  Part B: Choose the column that represents the June financial statement where the line item will appear and fill in the dollar amount using the FIFO inventory method.

Quizplus · Accepted Answer

The Answer of Merits,Inc.'s inventory activity in June was as follows:
  Part A: Choose the column that represents the June financial statement where the line item will appear and fill in the dollar amount using the LIFO inventory method.
  Part B: Choose the column that represents the June financial statement where the line item will appear and fill in the dollar amount using the FIFO inventory method.

Merits,Inc.'s Inventory Activity in June Was as Follows