1. Beginning inventory was 600 units at a cost of $2. two purchases were made during the year, the first in May of 1200 units at $22 each, and the second in October of 800 units at $24 each. Sales were 1500 units.

Calculate cost of good sold and ending inventory under both the LIFO and FIFO methods

Units $ Total

Beg inv

May

Oct

COGAS

Sold (COGS)

End inv

Beg Inv