Secure https//newconnect.mheducation.com/flow/connect.html Ch. 8 Assessment ?? I

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Secure https//newconnect.mheducation.com/flow/connect.html Ch. 8 Assessment ?? Inventory records for Herb's Chemicals revealed the following March 1, 2018, inventory: 1,000 gallons$7.20-$7,200 2 02593 Sales: Mar. 5 480 gals Mar. 14 700 gals Mar. 2 500 gals Mar. 26 700 gals 025933)Purchases: 600 gals e $7.25 Mar. 18 Mar. 16 80 gals $7.30 Mar. 23 600 gals e$7.35 Ending inventory assuming LIFO in a perpetual inventory system would be: Multiple Choice $5.080. Pray.. 1 of 7 ?l Next > O Type here to search

Explanation / Answer

Ending inventory Units per unit Amount March 1 inventory 500 7.2 3600 March 16 inventory 200 7.3 1460 Total 5060

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