|
6/1
|
balance
|
300 units
|
$13
|
6/10
|
Sold
|
196 units
|
$30
|
|
6/11
|
purchased
|
797 units
|
$15
|
6/15
|
Sold
|
499 units
|
$32
|
|
6/20
|
purchased
|
499 units
|
$16
|
6/27
|
Sold
|
302 units
|
$34
|
A. Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO.
B. Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory at LIFO?