Solution-Compute the cost of the ending inventory

Compute the cost of the ending inventory

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Reference no: EM132681599

Question 1 - Lily Company had 100 units in beginning inventory at a total cost of $10,000. The company purchased 200 units at a total cost of $26,000. At the end of the year, Lily had 90 units in ending inventory. Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost.

Question 2 - Bramble Distribution markets CDs of the performing artist Unique. At the beginning of October, Bramble had in beginning inventory 2,000 of Unique's CDs with a unit cost of $5. During October, Bramble made the following purchases of Unique's CDs.

Oct. 3. 2,500 @. $6. Oct. 19. 3,000 @. $8

Oct. 9. 3,500 @ $7. Oct. 25. 4,000 @ $9

Determine the cost of goods available for sale.

Reference no: EM132681599

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Compute the cost of the ending inventory

Reference no: EM132681599

Reference no: EM132681599

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