Left Images Printing Uses Perpetual LIFO in Valuing Its Inventory

question 108

Multiple Choice

Left Images Printing uses perpetual LIFO in valuing its inventory. The March 1 inventory was 36 units at $6 each. Purchases and sales during March were as follows: The cost of the ending inventory was

• A) $424
• B) $312
• C) $330
• D) $286

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Definitions:

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