Shandy Shutters has the following inventory information. Nov. 1 Inventory15 units @ $6.00 8 Purchas?

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Shandy Shutters has the following inventory information.
Nov. 1 Inventory15 units @ $6.00
8 Purchase60 units @ $6.45
17 Purchase30 units @ $6.30
25 Purchase45 units @ $6.60
A physical count of merchandise inventory on November 30 reveals that there are 50 units on hand. Assume a periodic inventory system is used. Ending inventory under LIFO is

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15@6=90
60@6.45=387
25@6.30=157.50
Totaled: $634.50
You take 50 off the last in. Be careful with dates. If you sell before a date then you remove from previous purchases.

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