2. Filmac, Inc. uses speakers when assembling computers. Information as to balan

Question

2. Filmac, Inc. uses speakers when assembling computers. Information as to balances on hand, purchases, and requisitions of speakers is given in the following table ransaction Number of Balance of Units Unit Price Date Units Jan. 1Beginning balance Jan. 15 Purchased Feb. 24 Issued Mar. 8 Issued Jun. 23 Purchased Aug. S Sep. 29 Issued Oct. 7 Dec. 16 Issued 200 300 250 180 280 200 170 270 220 200 100 50 70 $15.00 $16.00 100 17.00 80 30 100 50 Issuecd Purchased $19.00 If a perpetual inventory record of speakers is maintained on a LIFO basis, the March 8 issue will consist of a. 20 units @$15.00 and 50 units @ S16.00. b. 70 units @ $15.00. c. 50 units @ $16.00 and 20 units @ $15.00 d. 70 wnits a $16.00. Page 15 Cengage Learming Testing, Powered by Cognero

Explanation / Answer

Answer

>50 units will consist of remaining Jan 15 purchases at $ 16 per unit, and
>remaining 20 units will consist of Beginning units at $ 15 per unit.

50 units @ $ 16.00 AND 20 units @ $15.00

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