Value of the ending inventory, Accounting Basics

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Value of the ending inventory

A firm that sells a single product had a beginning inventory of 4,000 units with a total cost of $16,000 Early in the year, 8,000 units were purchased at $6 each. Using LIFO, what is the value of the ending inventory of 2,000 units?

A) $12,000

B) $10,000

C) $8,000

D) $24,000

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Accounting Basics: Value of the ending inventory

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Accounting Basics: Value of the ending inventory

Reference No:- TGS040304

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Recent Questions Asked Accounting Basics

Q : Npv and irr of real estate investment

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Ask an Expert for Answer!!

Accounting Basics: Value of the ending inventory

Reference No:- TGS040304

Recent Questions Asked Accounting Basics

Q : Npv and irr of real estate investment

Q : Genaral accepted accounting principles

Q : Determining expected rate of return on stock

Q : Determine the balance in the finished goods inventory

Q : Value of the ending inventory

Q : Net income under worst case scenario

Q : Compute the amount of overhead applied to production

Q : Value of the ending inventory of units

Q : Prepare the necessary journal entries

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