ACC 110 : ~$apter 2 - Litigation & Alternative Dispute Resolution.doc
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12 Mar 2014
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Alphabet Company, which uses the periodic inventory method, buysdifferent letters for resale. It buys A thru G in January at $11.0per letter. In February, it buys H thru L at $13.0 per letter. Itbuys M thru R in March at $14.0 per letter. It sells A, D, E, H, Jand N in April. |
If the company uses the LIFOmethod, what is the cost of its ending inventory? |
$84
$160
$142
$66