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What is the ending inventory after the september

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Reference no: EM133146322

Question - The Boy Bike Co. had the following September activity with their bikes inventory:

Beginning inventory - 25 bikes @ cost of $110

September 5th purchase - 15 bikes @ cost of $118

September 15th purchase - 33 bikes @ cost of $132

September 8th purchase - 22 bikes @ cost of $124

September 18th purchase - 10 bikes @ $138

On September 12th, the Boy Bike Co. sold 58 bikes for $188 each.

Required -

A. Calculate the Cost of Goods Sold for the September 12th sale using FIFO?

B. What is the ending inventory after the September 12th sale using FIFO?

C. Calculate the Cost of Goods Sold for the September 12th sale using LIFO?

D. What is the ending inventory after the September 12th sale using LIFO?

Reference no: EM133146322

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