Catlet co uses a periodic inventory system its records show

Reference no: EM13569949

Catlet Co. uses a periodic inventory system. Its records show the following for the month of May in which 65 units were sold. Date Explanation Units Unit Cost Total Cost May 1 Inventory 30 $9.60 $288.00 May 15 Purchases 25 12.60 315.00 May 24 Purchases 35 13.60 476.00 Total $90 $1,079.00 Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods.

Reference no: EM13569949

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