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1). Windsor has the following inventory data: Nov. 1 Inventory 26 units @ $5.20 each 8 Purchase 103 units @ $5.55 each 17 Purchase 52
1). Windsor has the following inventory data: Nov. 1 Inventory 26 units @ $5.20 each 8 Purchase 103 units @ $5.55 each 17 Purchase 52 units @ $5.40 each 25 Purchase 77 units @ $5.70 each A physical count of merchandise inventory on November 30 reveals that there are 86 units on hand. Ending inventory under FIFO is $488. $939. $468. $958.
2) Wildhorses has the following inventory data:
Nov. 1 | Inventory | 32 units @ $6.50 each | ||
8 | Purchase | 130 units @ $6.95 each | ||
17 | Purchase | 65 units @ $6.80 each | ||
25 | Purchase | 97 units @ $7.10 each |
A physical count of merchandise inventory on November 30 reveals that there are 108 units on hand. Cost of goods sold under LIFO is
$764.
$1479.
$736.
$1506.
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