Westcoast Purveyors had 345 computer system in stock at the end of the year. Inventory records show the following information: Date Qty Cost Total Cost January 1 Beginning Inventory 50 $1,458 $72,900 June 21 Purchase 50 1,122 56,100 August 1 Purchase 300 954 286,200 October 23 Purchase 200 1,146 229,200 November 16 Purchase 100 1,434 143,400 Total available for sale 700 $787,800 Using the LIFO method of inventory pricing, calculate the dollar value of the ending inventory. $

Westcoast Purveyors had 345 computer system in stock at the end of the year. Inventory records show the following information: Date Qty Cost Total Cost January 1 Beginning Inventory 50 $1,458 $72,900 June 21 Purchase 50 1,122 56,100 August 1 Purchase 300 954 286,200 October 23 Purchase 200 1,146 229,200 November 16 Purchase 100 1,434 143,400 Total available for sale 700 $787,800 Using the LIFO method of inventory pricing, calculate the dollar value of the ending inventory. $

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Description: Westcoast Purveyors had 345 computer system in stock at the end of the year. Inventory records show the following information:DateQty CostTotal CostJanuary 1Beginning Inventory50 $1,458$72,900June 21Purchase50 1,12256,100August 1Purchase300954286,20

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 67P

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