Answer:
The cost of the ending inventory is $300
Explanation:
LIFO stands for Last In First Out. It is an Inventory management system that sells the earlier inventory first.
Perpetual Inventory method records the costs of the sale of inventory with each sale instead of waiting after the period end.
On June 15, the units of sales are taken from the Beginning inventory units
The remainder of units after the June 15 sale together with new Purchase on June 29 form the amount of Closing Inventory
Cost of Ending Inventory is thus calculated as follows:
9 units × $ 20 = $100
8 units × $ 25 = $200
Total = $300
