Receipts and issues of a raw material for a period were: Date Details Units Cost per unit Cumulative Total Sep 1 Balance 240 $3.70 $888 Sep 5 Receipt 440 $3.60 $1584 Sep 15 Issue 240 Sep 31 Issue 300...

Receipts and issues of a raw material for a period were:

Date	Details	Units	Cost per unit	Cumulative Total
Sep 1	Balance	240	$3.70	$888
Sep 5	Receipt	440	$3.60	$1584
Sep 15	Issue	240
Sep 31	Issue	300

Using the LIFO inventory pricing method, what is the value of closing inventory on Sep 31? Show solution

Jun 08, 2022

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