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Compute ending inventory under lifo for riverbed appliance

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Reference no: EM132696761

Riverbed Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 4 sets at $575 each. On January 10, Riverbed purchased 6 units at $725 each. The company sold 2 units on January 8 and 4 units on January 15.

Problem 1: Compute the ending inventory under FIFO.

Problem 2: Compute the ending inventory under LIFO.

Reference no: EM132696761

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