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Addison, Inc If Addison Uses LIFO, the Cost of the Ending Merchandise

Question 74

Multiple Choice

Addison, Inc. uses a perpetual inventory system. The following is information about one inventory item for the month of September:  Sep. 1 Inventory 20 units at $204 Sold 10 units 10 Purchased 30 units at $2517 Sold 20 units 30 Purchased 10 units at $30\begin{array}{rll}\text { Sep. } 1 & \text { Inventory } & 20 \text { units at } \$ 20 \\4 & \text { Sold } & 10 \text { units } \\10 & \text { Purchased } & 30 \text { units at } \$ 25 \\17 & \text { Sold } & 20 \text { units } \\30 & \text { Purchased } & 10 \text { units at } \$ 30\end{array} If Addison uses LIFO, the cost of the ending merchandise inventory on September 30 is


A) $800
B) $650
C) $750
D) $700

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