Question

Staff Junket has the following inventory information: July 1- beginning inventory: 22 units at $94 July...

Staff Junket has the following inventory information:

July 1- beginning inventory: 22 units at $94

July 5- Purchases: 118 units at $88

July 14- Sale: 82 units

July 21- purchases: 56 units at $94

July 30- Sale: 51 units

Assuming that a perpetual inventory system is used, what is the ending inventory on a LIFO basis?

A: $5806

B: $5528

C: $5308

D: $5706

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