Answer:
$19,356
Step-by-step explanation:
July
1 Beg. Inventory 54 $122
5 Purchases 306 $114
14 Sale 204
21 Purchases 153 $117
31 Sale 143
Number of units left = (54+306-204+153-143)= 166
On LIFO(Last-in, first-out) basis, these 166 units of ending inventory cost;
= (54*122) + (166-54)*114 (Note:166-54 is to find the balance after the first 54)
= $6,588 + $12,768
= $19,356