Eller Company uses a periodic inventory system. Relevant inventory information for the year follows:
1-Jan
Beginning inventory20 units @ $170 per unit23-May
Purchased20 units @ $135 per unit5-Nov
Purchased400 units @ $185 per unit18-Nov
Purchased100 units @ $195 per unitAt year-end, 50 units remain in inventory. What is the cost of the ending inventory on a LIFO basis?
A. $7,950
B. $7,100
C. $8,750
D. $8,450
Answer: A
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A) 44,200 B) 40,800 C) 55,000 D) 60,000
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Indicate whether the statement is true or false
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Fill in the blank(s) with correct word
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A. feel personally empowered. B. give recognition for a job well done. C. punish the company for a product defect. D. receive a product discount. E. bond with others.