1.-

Beginning inventory, purchases, and sales for Item MMM8 are as follows:

November 1 Inventory 105 16

9 Sale 91

16 Purchase 130 10

25 Sale 76

Assuming a perpetual inventory system and using the Last-in, first-out (FIFO) method, determine the inventory value on November 30 ?

2.-

The units of an item available for sale during the year were as follows:

Jan 1 Inventory 15 units at 122

April 15 Purchase 140 units at 116

September 9 Purchase 26 units at 122

There are 31 units of the item in the physical inventory at December 31. The periodicinventory system is used. Determine the inventory cost using the last-in, first-out(LIFO)?

3.-

Beginning inventory, purchases, and sales for Item MMM8 are as follows:

November 1 Inventory 10916

9 Sale 88

16 Purchase 12523

25 Sale 83

Assuming a perpetual inventory system and using the Last-in, first-out (FIFO) method, determine the Cost of Goods Sold in November. ?

4.-

The units of an item available for sale during the year were as follows:

Jan 1 Inventory 12 units at 126

April 15 Purchase 132 units at 117

September 9 Purchase 28 units at 123

There are 39 units of the item in the physical inventory at December 31. The periodicinventory system is used. Determine the inventory cost using the first-in, first-out(FIFO) ?