Learning Tree,Inc. The Following Data Is Available for One of the Products

question 4

Essay

Learning Tree,Inc.
The following data is available for one of the products sold by Learning Tree,Inc. ,which uses the perpetual inventory system:
Refer to the data for Learning Tree,Inc.
If the LIFO method is used,what is the amount assigned to the ending inventory on May 30?

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Definitions:

Daily Interest Rate

A method of calculating interest where the rate is applied to the principal on a daily basis.

Miller-Orr Model

A financial model used for managing cash balances and optimizing the levels of cash holding based on specified upper and lower limits.

Cash Balance Target

A cash balance target is a strategy companies use to maintain an optimal level of cash reserves for operations and unexpected expenses, aiming to balance liquidity with profitability.