A Firm That Sells a Single Product Had a Beginning

question 33

Multiple Choice

A firm that sells a single product had a beginning inventory of 9,000 units with a total cost of
$45,000. Early in the year, 15,000 units were purchased at $6 each. Using LIFO, what is the value of the ending inventory of 4,000 units?

• A)$20,000
• B)$16,000
• C)$54,000
• D)$24,000