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Calculate the cost of goods sold for the year

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Reference no: EM132646184

Question - Wilson Company had the following information for the year ending December 31:

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Units Unit Cost Beginning inventory 300 at $39

Purchase: April 6 390 at $43

Sale: May 4 430

Purchase: July 19 420 at $44

Sale: September 9 200

Purchase: October 10 100 at $45

Wilson uses the perpetual inventory system and the LIFO method.

Required - Using LIFO

(a) Calculate the cost of ending inventory.

(b) Calculate the cost of goods sold for the year.

Reference no: EM132646184

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