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QUESTION
The following information has been extracted from the records of Due North Sales (DNS) Co.
The following information has been extracted from the records of Due North Sales (DNS) Co.:
January 1Beginning Inventory550 units @ $26 eachJanuary 9Bought1,000 units @ $28 eachJanuary 15Sold1,200 units @ $40 eachJanuary 25Bought750 units @ $30 each
If Due North Sales (DNS) uses the LIFO cost flow assumption, under a perpetual method, the ending inventory value at January 31st is (Round to 2 decimal places):
$31,600
$30,987
None of the other alternatives are correct
$32,052
$32,300
