Purchases and Sales During a Recent Period for Coleman, Inc

question 70

Multiple Choice

Purchases and sales during a recent period for Coleman, Inc. were:

Beginning inventory was 100 units at $1 each.
See information for Coleman, Inc.above. Given this information, what is the ending inventory if the periodic LIFO costing alternative is used?

• A) $400
• B) $500
• C) $1,250
• D) $3,100