Evans,Inc.had the following balances and transactions during 2017: $$\begin{array} { | l | l | }
\hline \text { Beginning Merchandise Inventory } & 10 \text { units at } \$ 71 \
\hline \text { March 10 } & \text { Sold 8 units } \
\hline \text { June } 10 & \text { Purchased } 20 \text { units at } \$ 81 \
\hline \text { October 30 } & \text { Sold } 15 \text { units } \
\hline
\end{array}$$ What is the amount of the company's Merchandise Inventory,as disclosed in the December 31,2017 balance sheet,using the periodic LIFO inventory costing method?

Question

Evans,Inc.had the following balances and transactions during 2017: $$\begin{array} { | l | l | } 
\hline \text { Beginning Merchandise Inventory } & 10 \text { units at } \$ 71 \
\hline \text { March 10 } & \text { Sold 8 units } \
\hline \text { June } 10 & \text { Purchased } 20 \text { units at } \$ 81 \
\hline \text { October 30 } & \text { Sold } 15 \text { units } \
\hline
\end{array}$$ What is the amount of the company's Merchandise Inventory,as disclosed in the December 31,2017 balance sheet,using the periodic LIFO inventory costing method?

Quizplus · Accepted Answer

The Answer of Evans,Inc.had the following balances and transactions during 2017: $$\begin{array} { | l | l | } 
\hline \text { Beginning Merchandise Inventory } & 10 \text { units at } \$ 71 \
\hline \text { March 10 } & \text { Sold 8 units } \
\hline \text { June } 10 & \text { Purchased } 20 \text { units at } \$ 81 \
\hline \text { October 30 } & \text { Sold } 15 \text { units } \
\hline
\end{array}$$ What is the amount of the company's Merchandise Inventory,as disclosed in the December 31,2017 balance sheet,using the periodic LIFO inventory costing method?

Evans,IncHad the Following Balances and Transactions During 2017 What Is the Amount of the Company's Merchandise Inventory,as Disclosed