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# Ext] 1. Transactions for the month of June were: Thusaetions forthemonth oqune wae: ushes-s June 1. (balm) 400 @ \$3.20 June 2 300 @ \$5.50 3 1,[email protected]

1. Assuming that perpetual inventory records are kept in units only, the ending inventory on a LIFO basis is?

a. \$1,900.

b. \$1,920.

c. \$1,970.

d. \$2,065

e. None of the above

2. Assuming that perpetual inventory records are kept in dollars, the ending inventory on a LIFO basis is

a. \$1,900.

b. \$1,920.

c. \$1,970.

d. \$2,065.

e. None of the above

3. Assuming that perpetual inventory records are kept in dollars, the ending inventory on a FIFO basis is

a. \$1,900.

b. \$1,920.

c. \$2,065.

d. \$2,100.

e. None of the above

(250x3.50) + (400x3.40) = 2,235

4. Assuming that perpetual inventory records are kept in units only, the ending inventory on an  average -cost basis, rounded to the nearest dollar, is

a. \$1,980.

b. \$1,956.

c. \$1,970.

d. \$1,995

e. None of the above

Ext] 1. Transactions for the month of June were: Thusaetions forthemonth oqune wae: ﬂushes-s
June 1. (balm) 400 @ \$3.20 June 2 300 @ \$5.50
3 1,[email protected] 3.10 6 [email protected] 5.50
7 [email protected] 3.30 9 [email protected] 5.50
15 900 @ 3.40 10 200 @ 6.00
22 [email protected] 3.50 13 [email protected] 6.00
2.5 150 @ 6.00 1. Assuming that perpetual inventory records are kept in units only, the ending inventory on a LIFO basis is?
a. \$1,900.
b. \$1,920.
c. \$1,970.
d. \$2,055 e. None of the above 2. Assuming that perpetual inventory records are kept in dollars, the ending inventory on a LIFO basis is a \$1,900.
b. \$1,920.
6. \$1,970.
d. \$2,055. e. None of the above 3. Assuming that perpetual inventory records are kept in dollars, the ending inventory on a FIFO basis is a \$1,900. b. \$1,920. c. \$2,065. d. \$2,100. e. None of the above (2511:3511) + (400x3.40) : 2,235 4. Assuming that perpetual inventory records are kept in units only, the ending inventory on an,
game-cost basis, rounded to the nearest dollar, is
a \$1,980. b. 5 1 , 95 6. c. \$1,970. d. \$1,995 e. None of the above

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