Eaton Electronics uses a periodic inventory system. On March 31, Eaton has two plasma TVs on hand at a cost of $1,500 ea
Posted: Tue Jul 05, 2022 11:49 am
Eaton Electronics uses a periodic inventory system. On March 31,Eaton has two plasma TVs on hand at a cost of $1,500 each (serialnumbers 11534892 and 11534894). In April, the company purchasesfour more identical TVs from Toshiba for $1,450 each (serialnumbers 11542631 through 11542634). In May, the company purchasesfive more identical TVs for $1,600 each (serial numbers 11550964through 11550968). In June, Eaton sells two of these TVs (serialnumbers 11534894 and 11542631). There were no additional purchasesor sales during the remainder of the year. Eaton Electronics usesthe LIFO method. What is the cost of its endinginventory?