Author Question: If Addison uses LIFO, the cost of the ending merchandise inventory on September 30 is a. 800 b. ... (Read 62 times)

kshipps · **on:** Jul 5, 2018

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