Solution-Compute the ending inventory and cost of goods sold

Compute the ending inventory and cost of goods sold

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Reference no: EM132439194

Question - You are provided with the following information for Lahti Inc for the month ended October 31, 2005. Lahti uses to perpetual method of inventory.

Date	Description	Units	Unit Cost or Selling Price
October 1	Beginning Inventory	60	$25
October 9	Purchase	120	26
October 11	Sale	100	35
October 17	Purchase	70	27
October 22	Sale	60	40
October 25	Purchase	80	28
October 29	Sale	150	40

Required - Compute the ending inventory, cost of goods sold, and gross profit under the following methods:

i. FIFO

ii. LIFO

iii. Average Cost.

Reference no: EM132439194

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Compute the ending inventory and cost of goods sold

Reference no: EM132439194

Reference no: EM132439194

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