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