If Addison uses LIFO, the cost of the ending merchandise ...

[kshipps]

If Addison uses LIFO, the cost of the ending merchandise inventory on September 30 is
 a. 800
  b. 650
  c. 750
  d. 700

Question 2

Perch X, Inc purchased goods with an invoice price of 3,000. Purchase terms are 1/10, n/30 and the invoice is paid one week after it was received. The shipping terms are FOB shipping point and the shipping costs are 300.
 
  The cost of the inventory purchased equals _______.
  A) 3,000
  B) 3,300
  C) 2,700
  D) 3,270

[cegalasso]

Answer to Question 1

c

Answer to Question 2

D

[kshipps]

TYSM

[sultansheikh]

Thanks for the timely response, appreciate it