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A restaurant had 6 cases of napkins in beginning inventory, each valued at $20. During month of June, the restaurant made two purchasesJune 10 it
A restaurant had 6 cases of napkins in beginning inventory, each valued at $20. During month of June, the restaurant made two purchasesJune 10 it purchased 8 more cases of napkins for $22 each, and June 25 it purchased an additional 4 cases of napkins for a total purchase invoice of $100. At the end of June, when doing inventory, it was determined that 3 cases remained in ending inventory. Determine the CGS and Ending Inventory valuation using the FIFO and LIFO methods.
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