A Company Purchased 100 Units for $30 Each on January

question 32

Multiple Choice

A company purchased 100 units for $30 each on January 31.It purchased 400 units for $20 each on February 28.It sold a total of 470 units for $110 each from March 1 through December 31.If the company uses the last-in,first-out inventory costing method,calculate the amount of ending inventory on December 31.(Assume that the company uses a perpetual inventory system. )

• A)$600
• B)$2,400
• C)$900
• D)$30

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Definitions:

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