Toddlers' Toyland, Which Uses the LIFO Method of Valuing Inventory

question 32

Short Answer

Toddlers' Toyland, which uses the LIFO method of valuing inventory, has 80 brown bears remaining in inventory. Toddlers' purchased brown bears over a three-month period as follows: 72 purchased at $3.50 on October 7, 84 purchased at $3.65 on November 7, and 60 purchased at $3.80 on December 7. Compute the value of the ending inventory of bears at LIFO cost.​

---

Definitions:

Peak-to-peak

Refers to the difference in amplitude between the highest and the lowest points of a waveform, indicating the total voltage change.

Average

A numerical value expressing the central or typical value in a set of data, calculated as the sum of the values divided by their number.

Rectifiers

Electrical devices that convert alternating current (AC) to direct current (DC), allowing the flow of charge in one direction only, and are widely used in power supply units and electronics.

Converters

Devices that transform energy from one form to another, such as AC to DC in electrical systems, or physical units in digital systems.