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Units Unit Cost Total Cost Inventory, 1/1 200 $10.00 $2,000 Purchases 3/5 300 10.50...

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Accounting

Units Unit Cost Total Cost

Inventory, 1/1 200 $10.00 $2,000

Purchases

3/5 300 10.50 3,150

7/12 350 11.00 3,850

10/18 450 12.00 5,400

12/22 150 13.00 1,950

Units sold 1,100

Selling price $15/unit

Selling expense $3

Normal profit $4

Replacement cost $7.50

Ending inventory under the LIFO method is

a) $3,575 b) $4,350 c) $3,948 d) $3,450

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