Evans,IncHad the Following Balances and Transactions During 2017 What Is the Amount of the Company's Merchandise Inventory,as Disclosed

question 116

Multiple Choice

Evans,Inc.had the following balances and transactions during 2017: $$\begin{array} { | l | l | } \hline \text { Beginning Merchandise Inventory } & 10 \text { units at } \$ 71 \\\hline \text { March 10 } & \text { Sold 8 units } \\\hline \text { June } 10 & \text { Purchased } 20 \text { units at } \$ 81 \\\hline \text { October 30 } & \text { Sold } 15 \text { units } \\\hline\end{array}$$ What is the amount of the company's Merchandise Inventory,as disclosed in the December 31,2017 balance sheet,using the periodic LIFO inventory costing method?

• A)$405
• B)$497
• C)$567
• D)$355

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