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A company had the following purchases and sales during its first year of operations: Purchases Sales...

A company had the following purchases and sales during its first year of operations:

Purchases Sales
January: 21 units at $195 15 units
February: 31 units at $200 18 units
May: 26 units at $205 22 units
September: 23 units at $210 21 units
November: 21 units at $215 22 units


On December 31, there were 24 units remaining in ending inventory. Using the perpetual LIFO inventory costing method, what is the cost of the ending inventory? (Assume all sales were made on the last day of the month.)

  • $4,800.

  • $9,951.

  • $10,389.

  • $15,340.

  • $12,921.

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Answer #1

Ending inventory is 4800

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