Business, 11.06.2020 19:57 iyana479

Addison, Inc. uses a perpetual inventory system. The following is information about one inventory item for the month of September: Sep. 1 : Inventory20 units at $20
Sep. 4 : Sold10 units
Sep. 10 : Purchased30 units at $25
Sep. 17 : Sold20 units
Sep. 30 : Purchased10 units at $30
a) If Addison uses LIFO, the cost of the ending merchandise inventory on September 30 is:.
a.$800
b.$750
c.$650
d.$700
b) If Addison uses FIFO, the cost of the ending merchandise inventory on September 30 is:.
a.$800
b.$700
c.$650
d.$750

Answers: 1

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Addison, Inc. uses a perpetual inventory system. The following is information about one inventory it...