Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method. 16 units at $20 each
June 1
June 15
June 29
Beginning inventory
Sale of 8 units for $50 each
Purchase
8 units at $25 each
The cost of the ending inventory is:

the answer is 200

step-by-step explanation:

the way the question is worded, it seems to imply the $264 interest is simple interest, not compound interest.

the simple interest for 2 years is $264; the simple interest for 1 year is $132.

$132 interest on a $600 investment means an interest rate of (132/600)*100 = 22%.

the value of $200 at 22% interest compounded annually for three years is

200%281.22%29%5e3

the amount of interest is that value, minus the original $200.

hiking down a winding trail.

step-by-step explanation:

-2x + 7 = 7

subtract 7 from both sides.

-2x = 0

divide both sides by -2.

x = 0