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Tahjmahol
Nov 5, 2006, 04:24 PM
Surgical supply, inc. had the following inventory
January 1: 47 units at $8 each
January 15:28 units at $9.50 each
February 10: 18 units at $12 each
There was 24 units in ending inventory. What is the value of the ending inventoy using the LIFO method?

A. $273
B. $192
C. $177
D $228

CaptainForest
Nov 7, 2006, 02:30 PM
Last in First Out, 24 x 8 = 192

Therefore, the answer is B: $192