6 Required information Beech Soda, Inc. uses a perpetual inventory system. The c

Question

6 Required information Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows: Part 5 of 5 Total Quantity Unit Cost Cost Beginning inventory (Jan. 1) Purchase (Jan. 11) Purchase (Jan. 20) Total $ 13 s 19 $ 21 $ 286 266 525 $1,077 3.33 points 14 25 61 Skipped Print On January 14, Beech Soda, Inc. sold 27 units of this product. The other 34 units remained in inventory at January 31 Assuming that Beech Soda uses the LIFO cost flow assumption, the 34 units of this product in inventory at January 31 have a total cost of

Explanation / Answer

Ending inventory under LIFO = (22-13)*13+(25*21)= 642

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