Question

Bramble Bookstore had 550 units on hand at January 1, costing $9 each. Purchases and sales...

Bramble Bookstore had 550 units on hand at January 1, costing $9 each. Purchases and sales during the month of January were as follows:

Date Purchases Sales
Jan.    14 350 @ $14
17 250 @ $12
25 250 @ $10
29 270 @ $17


Bramble does not maintain perpetual inventory records. According to a physical count, 430 units were on hand at January 31.

The cost of the inventory at January 31, under the LIFO method is:

$4660.
$5160.
$4300.
$3870.
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