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Brady Corp. has the following inventory information available for the month of December: Number of Units Cost per unit 40 $15 Date December 1 Beginning
Brady Corp. has the following inventory information available for the month of December: Number of Units Cost per unit 40 $15 Date December 1 Beginning Inventory December 10 Purchases December 20 Purchases 50 $19 60 $18 The company sold 140 units in December. Required: Using the above information, fill in the chart below with the amounts that should be reported for total cost of goods sold for December and the cost of ending inventory at Dec 31 under both the LIFO and FIFO cost flow assumptions. Do not include commas or a decimal point in the answers. LIFO FIFO Cost of Goods Sold $ Cost of Ending Inventory $ $
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