Question
Carla Vista Lighting had a beginning inventory of 18 units at a cost of $7 per unit on August 1. During the month, the
Carla Vista Lighting had a beginning inventory of 18 units at a cost of $7 per unit on August 1. During the month, the following purchases and sales were made. Purchases Sales August 5 23 units at $8 August 2 13 units August 11 August 23 33 units at $9 August 10 18 units 28 units at $10 August 19 48 units August 211 18 units Carla Vista uses a periodic inventory system Determine ending inventory and cost of goods sold under: 1. FIFO and 2. LIFO FIFO 1 Ending inventory $ 2. Cost of goods sold $ $ LIFO
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