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Given the following information, determine the cost of the inventory at June 30 ...
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Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method.
| Date | Activities | Units Acquired at Cost | Units Sold at Retail |
|---|---|---|---|
| June 1 | Beginning inventory | 15 units @ $35 = $525 | |
| June 15 | Sale | 6 units @ $65 | |
| June 29 | Purchase | 8 units @ $40 = $320 |
The cost of the ending inventory is:
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