Ending Inventory Under LIFO Method
Dart Supply recorded the following transactions:
1/3 - Purchased 14 units of inventory for $560,000
1/5 - Purchased 16 units of inventory for $736,000
1/7 - Sold 6 units for $240,000
What is the value of the ending inventory using the LIFO method?
A
$1,020,000
B
$1,056,000
C
$1,186,000
D
$460,000
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