Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 6 - Reporting and Analyzing Inventory - Self-Test Questions: 5

Answer

d

Work Step by Step

To compute the value of remaining inventory using LIFO, compute the value of the first 9000 units received. $(8000\times11)+(1000\times12)=88000+12000=100000$
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