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Transactions for the month of June were: Purchases Sales June 1 (balance)...

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Question

Accounting

Transactions for the month of June were:

Purchases Sales

June 1 (balance) 3,200 @ $3.20 June 2 2,400 @ $5.50

3 8,800 @ 3.10 6 6,400 @ 5.50

7 4,800 @ 3.30 9 4,000 @ 5.50

15 7,200 @ 3.40 10 1,600 @ 6.00

22 2,000 @ 3.50 18 5,600 @ 6.00

25 800 @ 6.00

Assuming that perpetual inventory records are kept in dollars, the ending inventory on a LIFO basis is?

1) 16440

2) 16640

3)17160

4)17880

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