A Firm That Uses a Period System Sells a Single

question 65

Multiple Choice

A firm that uses a period system sells a single product that 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. At the end of the year there were 4,000 units on hand. Using LIFO, what is the value of the ending inventory of 4,000 units?

• A)$10,000
• B)$15,000
• C)$24,000
• D)$20,000