Accounting MCQ Accounting Dunbar sold 700 units of inventory during the month. Ending inventory assuming LIFO would be:

Dunbar sold 700 units of inventory during the month. Ending inventory assuming LIFO would be:

Naim 12:32 Accounting

Inventory records for Dunbar Incorporated revealed the following:

Date Transaction Number of Units Unit Cost

Apr. 1 Beginning Inventory 500 $ 2.40

Apr. 20 Purchase 400 2.50

Dunbar sold 700 units of inventory during the month. Ending inventory assuming LIFO would be:

A) $500.

B) $490.

C) $470.

D) $480.

Answer: D

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