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Bonita has the following inventory data: Nov. 1 ...

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Question

Accounting

Bonita has the following inventory data:

Nov. 1 Inventory 26 units @ $5.30 each
8 Purchase 106 units @ $5.70 each
17 Purchase 53 units @ $5.55 each
25 Purchase 79 units @ $5.80 each

A physical count of merchandise inventory on November 30 reveals that there are 88 units on hand. Ending inventory under LIFO is

$1003.

$491.

$986.

$508.

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