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5 During 2021, a company sells 394 units of inventory for $89 each. The company has the following inventory purchase transactions for 2021 Date
5 During 2021, a company sells 394 units of inventory for $89 each. The company has the following inventory purchase transactions for 2021 Date Transaction Jan. 1 Beginning inventory May 5 Purchase 2.09 Nov. 3 Purchase Number of Units Unit Cost Total Cost 64 $69 $ 4,416 169 71 11,999 190 74 14,060 423 $30,475 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses LIFO Ending inventory Cost of goods sold
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