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I. Transactions for the month of June were: 1. Assuming that perpetual inventory records are kept in units only, the ending inventory on a LIFO basis...
I. Transactions for the month of June were:
1. Assuming that perpetual inventory records are kept in units only, the ending inventory on a LIFO basis is ?
a. $1,900.
b. $1,920.
c. $1,970.
d. $2,065
e. Non of the above
2. Assuming that perpetual inventory records are kept in dollars, the ending inventory on a LIFO basis is
a. $1,900.
b. $1,920.
c. $1,970.
d. $2,065.
e. Non of the above
3. Assuming that perpetual inventory records are kept in dollars, the ending inventory on a FIFO basis is
a. $1,900.
b. $1,920.
c. $2,065.
d. $2,100.
e. Non of the above
4. Assuming that perpetual inventory records are kept in units only, the ending inventory on an average-cost basis, rounded to the nearest dollar, is
a. $1,980.
b. $1,956.
c. $1,970.
d. $1,995
e. Non of the above
