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2) Orpa Company had a beginning inventory of 430 units with a total cost of $2,580. During the year purchases were: March 10 600 units

2) Orpa Company had a beginning inventory of 430 units with a total cost of $2,580. During the year purchases were:

March 10 600 units at $ 7

May 25 700 units at $ 8.5

Aug. 20 450 units at $ 9

Nov. 5 550 units at $ 9.5

Orpa uses a periodic inventory system. Sales totalled 2,100 units.

Instructions:

Determine the ending inventory & cost of goods sold under LIFO. (7)

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