Lauer Corporation Uses the Periodic Inventory System and Has Provided

question 22

Multiple Choice

Lauer Corporation uses the periodic inventory system and has provided the following information about one of their laptop computers:

$$\begin{array}{ll}\begin{array} { ll } \text { Date } & \text { Transaction } \\1 / 1 & \text { Beginning Inventory } \\5 / 5 & \text { Purchase } \\8 / 10 & \text { Purchase } \\10 / 15 & \text { Purchase }\end{array}\begin{array} { l l} \text { Number of Units } & \text { Cost per Unit } \\100& \$ 800 \\200 & \$ 900 \\300 & \$ 1,000 \\200 & \$ 1,050\end{array}\end{array}$$
During the year,750 laptop computers were sold. What was ending inventory using the LIFO cost flow assumption?

• A)$40,000
• B)$52,500
• C)$60,000
• D)$55,000

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