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    Tahjmahol's Avatar
    Tahjmahol Posts: 1, Reputation: 1
    New Member
    		  
    #1

    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's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #2

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

    Therefore, the answer is B: $192
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