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Given the following: LIFO method: 250 units left in ending inventory. 1/1/2018 Beginning inventory  200 units @ $6 = $1,200 4/10/2018 Purchases  400 units @ $7 = $2,800 5/15/2018 Purchases  250 units @ $7 = $1,750 7/9/2018 Purchases  200 units @ $8 = $1,600 10/18/2018 Purchases  100 units @ $11 = $1,100 The cost of ending inventory is $____________

Given the following: LIFO method: 250 units left in ending inventory. 1/1/2018 Beginning inventory  200 units @ $6 = $1,200 4/10/2018 Purchases  400 units @ $7 = $2,800 5/15/2018 Purchases  250 units @ $7 = $1,750 7/9/2018 Purchases  200 units @ $8 = $1,600 10/18/2018 Purchases  100 units @ $11 = $1,100 The cost of ending inventory is $____________

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 14RE: On January 1 of Year 1, Dorso Company adopted the dollar-value LIFO method of inventory costing....
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Given the following: LIFO method: 250 units left in ending inventory.

1/1/2018 Beginning inventory  200 units @ $6 = $1,200

4/10/2018 Purchases  400 units @ $7 = $2,800

5/15/2018 Purchases  250 units @ $7 = $1,750

7/9/2018 Purchases  200 units @ $8 = $1,600

10/18/2018 Purchases  100 units @ $11 = $1,100

The cost of ending inventory is $____________

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