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# The inventory records for Barts Inc. indicate the following activity for the month of January: January 1 balance, 1000 units @ \$7.20 each Purchases:...

The inventory records for Barts Inc. indicate the following activity for the month of

January:

January 1 balance, 1000 units @ \$7.20 each

Purchases:

January 10: 600 units @ \$7.25 each

January 16: 800 units @ \$7.30 each

January 23: 600 units @ \$7.35 each

Sales:

January 5: 400 units

January 14: 700 units

January 20: 500 units

January 26: 700 units

January 31st ending inventory using unit LIFO in a periodic inventory system is:

A) \$5,040

B) \$5,055

C) \$5,075

D) \$5,135

January 31st ending inventory using unit LIFO in a perpetual inventory system is:

A) \$4,960

B) \$5,060

C) \$5,080

D) \$5,140

January 31st ending inventory using FIFO in a perpetual inventory system is:

A) \$5,140

B) \$5,080

C) \$5,060

D) \$5,050

January 31st ending inventory using average cost (rounding unit cost to three

decimal places) in a periodic inventory system is:

A) \$5,087

B) \$5,107

C) \$5,077

D) \$5,005

Option Cost of Inventory LIFO (periodic)                 "A" correct... View the full answer

January 31st ending inventory using unit LIFO in a periodic inventory system is: \$5040 January 31st ending... View the full answer

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