Given the Following Information, Determine the Cost of the Inventory

question 179

Multiple Choice

Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method. $$\begin{array} { | l | l | l | } \hline \text { June 1 } & \text { Beginging inventory } & 15 \text { units at \$20 each } \\\hline \text { June 15 } & \text { Sale of 6 units for \$50 each } & \\\hline \text { June 29 } & \text { Purchase } & \text { 8 units at \$25 each } \\\hline\end{array}$$ The cost of the ending inventory is:

• A) $220
• B) $380
• C) $275
• D) $300
• E) $200

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