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4. Invention, Inc. had the following inventory information for October 2019. During the month of October, Invention sold 88 units. Date Units Total cost Explanation
4. Invention, Inc. had the following inventory information for October 2019. During the month of October, Invention sold 88 units. Date Units Total cost Explanation Beginning Inventory Inventory Purchase Inventory Purchase Inventory Purchase Oct 1 Oct 12 Oct 19 Oct 26 20 35 Unit cost $120 $125 $128 $130 15 40 TOTALS 110 Calculate the cost of goods sold & ending inventory using: a. FIFO b. LIFO Average Cost c
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