Tedder Co
Tedder Uses a Periodic Inventory System -Refer to the Information Provided in the Figure Tedder Co

question 176

Multiple Choice

Tedder Co.
Tedder uses a periodic inventory system. At the end of January, 20 units were on hand. The following additional information is available for the month of January:
$$\begin{array} { l l c l } \text { Jan. } 1 & \text { Beginning inventory: } 10 \text { units at \$2 each } & \$ 20 \\20 & \text { Purchased } 90 \text { units for } \$ 3 \text { each } & 270 & \\& { \text { Cost of goods available for sale } } & \$ 290\end{array}$$
-Refer to the information provided in the figure Tedder Co.If the company uses the LIFO inventory method,how much is inventory on the balance sheet at the end of January?

• A) $40
• B) $50
• C) $58
• D) $60

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