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$702.00
$236.40
$465.60
Question 27
Classic Floors has the following inventory data:
July 1
Beginning inventory
$6.00
5
Purchases
14
21
Sale
Purchases
30
Sale
15 units at
60 units at $6.60
40 units
30 units at $7.20
28 units
Assuming that a perpetual inventory system is used, what is the
value of ending inventory on a LIFO basis for July?
$236.40
$465.60
$702.00
$354.00