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Chapter+7+_Sample+Test_ - Chapter 7(Sample Test Blake...

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Chapter 7 (Sample Test) Blake Corporation, which produces a single product, has provided the following absorption costing income statement for the month of June: During June, the company's variable production costs were $10 per unit and its fixed manufacturing overhead totaled $60,000. A total of 10,000 units were produced during June and the company had 1,000 units in the beginning inventory. The company uses the LIFO method to value inventories. 1. The carrying value on the balance sheet of the company's inventory on June 30 under the variable costing method would be:
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