Bonita Industries has the following inventory information. July 1 Beginning Inventory 35 units at $110,...
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Bonita Industries has the following inventory information. July 1 Beginning Inventory 35 units at $110, July 5 Purchases 260 units at $108, July 14 Sale 160 units, July 21 Purchases 100 units at $110, July 30 Sale 160 units. Assuming that a periodic inventory system is used, what is the amount allocated to ending inventory on a LIFO basis? A) $30630 B) $30610 C) $8250 D)$8170
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