Storme Shutters has the following inventory information. $$\begin{array}{rlr}\text{ Nov. }1& \text{ Inventory }& 30\text{ units }@\$8.00\\ 8& \text{ Purchase }& 120\text{ units }@\$8.30\\ 17& \text{ Purchase }& 60\text{ units }@\$8.70\\ 25& \text{ Purchase }& 90\text{ units }@\$8.80\end{array}$$ A physical count of merchandise inventory on November 30 reveals that there are 80 units on hand. Assume a periodic inventory system is used. Ending inventory under LIFO is

A) $655.
B) $704.
C) $1756.
D) $1812.

Ending Inventory

Ending inventory is the total value of inventory still on hand at the end of an accounting period, calculated by adding new purchases to beginning inventory and subtracting the goods sold.

LIFO

Last In, First Out (LIFO) is an inventory valuation method which assumes that the most recently produced items are the first to be sold.

Units

In accounting and finance, refers to a measure of quantity or volume of production or inventory.