Use the following information to answer questions (Round to 2 decimal places): The following information has been extracted from the records of Due North Sales (DNS) Co.: January 1 January 9 January 15 January 25 Multiple Choice If Due North Sales (DNS) uses the LIFO cost flow assumption, under a perpetual method, the ending inventory value at January 31st is: O O Beginning Inventory Bought Sold Bought O $31,600 None of the other alternatives are correct $30,987 $32,300 550 units@ $26 each 1,000 units @ $28 each 1,200 units @ $40 each 750 units@ $30 each $32,052
Use the following information to answer questions (Round to 2 decimal places): The following information has been extracted from the records of Due North Sales (DNS) Co.: January 1 January 9 January 15 January 25 Multiple Choice If Due North Sales (DNS) uses the LIFO cost flow assumption, under a perpetual method, the ending inventory value at January 31st is: O O Beginning Inventory Bought Sold Bought O $31,600 None of the other alternatives are correct $30,987 $32,300 550 units@ $26 each 1,000 units @ $28 each 1,200 units @ $40 each 750 units@ $30 each $32,052
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter20: Accounting For Inventory
Section: Chapter Questions
Problem 3AP
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