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Current Attempt in Progress Oriole Co. uses a periodic inventory system. Its records show the following for the month of May, in which 90
Current Attempt in Progress Oriole Co. uses a periodic inventory system. Its records show the following for the month of May, in which 90 units were sold. Units Unit Cost Total Cost May 1 Inventory 40 $8 $320 15 Purchases 35 12 420 24 Purchases 45 13 585 Totals 120 $1,325 Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. Ending inventory $ Cost of goods sold SA $ FIFO SA SA LIFO
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