Compute the cost of goods sold

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Reference no: EM13920841

6/1	balance	300 units	$13	6/10	Sold	196 units	$30
6/11	purchased	797 units	$15	6/15	Sold	499 units	$32
6/20	purchased	499 units	$16	6/27	Sold	302 units	$34

A. Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO.

B. Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory at LIFO?

Reference no: EM13920841

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