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Use the lifo method to calculate the value of the inventory

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Reference no: EM132965280

Problem 1: Given the following information, use the FIFO method to calculate the value of the inventory at the end of the month.

Beginning Inventory 35 cases @ $20/case
Purchases 20 cases @ $22/case
Ending Inventory 25 cases

Problem 2: Given the following information, use the LIFO method to calculate the value of the inventory at the end of the month.

Beginning Inventory 40 cases @ $20/case
Purchases 20 cases @ $22/case
Ending Inventory 30 cases

Reference no: EM132965280

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