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Current Attempt in Progress Inventory information for Part 311 of Skysong Corp. discloses the following information for the month of June. June 1 Balance 301
Current Attempt in Progress Inventory information for Part 311 of Skysong Corp. discloses the following information for the month of June. June 1 Balance 301 units @ $12 June 10 Sold 200 units @ $28 11 Purchased 804 units @ $14 15 Sold 504 units @ $29 20 Purchased 497 units @ $15 27 Sold 304 units @ $32 (a) Your answer is partially correct. Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO. (1) LIFO 14016 $ 8307 Cost of goods sold $ Ending inventory +A +A +A (2) FIFO 13510 8813
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