Javon Corp Assuming 310 Cans Were Left in Inventory, What Is the Paint

question 10

Short Answer

Javon Corp. had a beginning inventory of 300 cans of paint on January 1, at a cost of $2,100. During the year, the following purchases were made:
$$\begin{array} { | l | l | } \hline \text { February } 15 & 200 \text { cans at } \$ 8 \text { each } \\\hline \text { May } 5 & 250 \text { cans at } \$ 10 \text { each } \\\hline \text { December } 8 & 100 \text { cans at } \$ 12 \text { each } \\\hline\end{array}$$ Assuming 310 cans were left in inventory, what is the cost of ending inventory under the LIFO method?

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Definitions:

Economic Outlook

An analysis or forecast of the future economic condition, including expectations for growth, inflation, and employment.

Coefficient of Variation

A statistical measure of the dispersion of data points in a data series around the mean, used to assess the relative risk of an investment.

Systematic Risk

The risk inherent to the entire market or market segment, also known as market risk, which cannot be eliminated through diversification.

Characteristic Line

A line generated in a graphical representation of the returns on a security versus the returns on the market, used to assess risk.