A firm that sells a single product had a beginning inventory of 7,000 units with a total cost of $56,000. Early in the year, 11,000 units were purchased at $9 each. Using LIFO, what is the value of the ending inventory of 3,000 units? Multiple Choice $24,000 $25,500 $27,000 $56,000

Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 3CE: Pietro expects to produce 50,000 units and sell 49,300 units. Beginning inventory of finished goods...
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A firm that sells a single product had a beginning inventory of 7,000 units with a total cost of $56,000. Early in the year, 11.000 units were
purchased at $9 each. Using LIFO, what is the value of the ending inventory of 3,000 units?
Multiple Choice
O
$24,000
$25,500
$27,000
$56,000
Transcribed Image Text:A firm that sells a single product had a beginning inventory of 7,000 units with a total cost of $56,000. Early in the year, 11.000 units were purchased at $9 each. Using LIFO, what is the value of the ending inventory of 3,000 units? Multiple Choice O $24,000 $25,500 $27,000 $56,000
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