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The following lots of Commodity D were available for sale during the year. Use this...

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Accounting

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The following lots of Commodity D were available for sale during the year. Use this information to answer the question. Beginning inventory 10 units at $60 First purchase 25 units at $65 Second purchase 30 units at $68 Third purchase 15 units at $75 The firm uses the periodic system, and there are 25 units of the commodity on hand at the end of the year. What is the amount of the inventory at the end of the year using the LIFO method? $1,805 $1,685 $3,815 $1,575 The following units of an inventory item were available for sale during the year. Use this information to answer the following question. Beginning inventory First purchase Second purchase Third purchase 10 units at $55 25 units at $60 30 units at $65 15 units at $70 The firm uses the periodic inventory system. During the year, 60 units of the item were sold The value of ending inventory using FIFO is $1,150 $1,375 ST.150 $1,250

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