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A company made the following merchandise purchases and sales during the month of February: 1-Feb 6-Feb 8-Feb 15-Feb 22-Feb 27-Feb purchased 600 purchased 250
A company made the following merchandise purchases and sales during the month of February: 1-Feb 6-Feb 8-Feb 15-Feb 22-Feb 27-Feb purchased 600 purchased 250 sold 300 purchased 300 sold 500 purchased 100 units @ units@ $5 each $7 each units $20 each units @ $9 each units. $20 each units $8 each There was no beginning inventory. If the company uses the last-in, first-out (LIFO) method and the perpetual system, what would be the cost of the ending inventory and the total cost of goods sold?
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