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Find the cost of ending inventory using fifo

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Reference no: EM132582460

Following is the data for the inventory transactions completed by the company during the month of September.

September 1 Inventory 700 units @ 6.20

September 5 Purchase 400 units @ 6.40

September 6 Sold 300 units @ 12

September 8, Purchased 259 units at the price of 6.85

September 14, Sold 500 units at the price of 13

September 25 sold 550 units @ 12.5

September 28 Purchase 600 units @ 6.70

Question a: Using the perpetual inventory system find the cost of ending inventory using

1. FIFO

2. LIFO

Reference no: EM132582460

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