Given the Following Information, Determine the Cost of the Inventory

question 5

Multiple Choice

Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method. $$\begin{array} { | l | l | l | } \hline \text { June 1 } & \text { Beginning inventory } & \begin{array} { l } 15 \text { units at } \$ 20 \\\text { ead }\end{array} \\\hline \text { June 15 } & \begin{array} { l } \text { Sale of } 6 \text { units for } \$ 50 \\\text { each }\end{array} & \\\hline \begin{array} { l } \text { June } \\29\end{array} & \text { Purchase } & \begin{array} { l } 8 \text { units at } \$ 25 \\\text { ead }\end{array} \\\hline\end{array}$$ The cost of the ending inventory is:

• A)$200
• B)$220
• C)$380
• D)$275
• E)$300

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