The following information was available from the inventory records of Swifty Corporation for January: Units Unit Cost Total Cost Balance at January 1 8,800 $9.75 $85,800 Purchases: January 6 5,800...

The following information was available from the inventory records of Swifty<br>Corporation for January:<br>Units<br>Unit Cost<br>Total Cost<br>Balance at January 1<br>8,800<br>$9.75<br>$85,800<br>Purchases:<br>January 6<br>5,800<br>10.21<br>59,218<br>January 26<br>8,100<br>10.67<br>86,427<br>Sales<br>January 7<br>(7,600 )<br>January 31<br>(10,900 )<br>Balance at January 31<br>4,200<br>Assuming that Swifty uses a perpetual inventory system, what should be the<br>inventory at January 31, using the LIFO method?<br>O $42,820<br>O $41.210<br>O $43,740<br>O $40,950<br>

Extracted text: The following information was available from the inventory records of Swifty Corporation for January: Units Unit Cost Total Cost Balance at January 1 8,800 $9.75 $85,800 Purchases: January 6 5,800 10.21 59,218 January 26 8,100 10.67 86,427 Sales January 7 (7,600 ) January 31 (10,900 ) Balance at January 31 4,200 Assuming that Swifty uses a perpetual inventory system, what should be the inventory at January 31, using the LIFO method? O $42,820 O $41.210 O $43,740 O $40,950

Jun 10, 2022

SOLUTION.PDF

The following information was available from the inventory records of Swifty Corporation for January: Units Unit Cost Total Cost Balance at January 1 8,800 $9.75 $85,800 Purchases: January 6 5,800...

Get Answer To This Question

Related Questions & Answers

Submit New Assignment