Sunny's Tanning Beds Inc. uses the periodic inventory system and has provided the following information:...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Sunny's Tanning Beds Inc. uses the periodic inventory system and has provided the following information: Date Transaction Number of Units Cost Per Unit 1/1 Beginning Inventory 410 $205 4/2 Purchase 130 $215 9/15 Purchase 50 $220
During the year, Sunny sold 520 Tanning Beds.What was the ending inventory using the LIFO cost flow assumption?
$69,700
$11,000
$14,350
$15,400
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
