Question

Bramble Corp. just began business and made the following four inventory purchases in June:

June 1 140 units $938
June 10 190 units 1292
June 15 190 units 1349
June 28 140 units 1050
$4629

A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the LIFO inventory method, the value of the ending inventory (rounded to whole dollar) on June 30 is

Answer 1

the value of the ending inventory (rounded to whole dollar) on June 30 is 1400

Step-by-step explanation:

Month Units Cost Unit Cost Inven. Inven. Cost

jun-01 140 938 7 140 980

jun-10 190 1292 7 60 420

jun-15 190 1349 7 0 0

jun-28 140 1050 8 0 0

200 1400