Date of Purchase Jan. 10 Jan 15 Totals Units 6,000 9.00 15,000 Unit Cost $ 5 5 Total Cost $10,000 54,000 34.000 Includes purchase price and cost of freight Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 5,aee 3,000 6.ee 14,000 10,000 units were on hand at the end of the month Problem 8-5 (Algo) Part 2 2. Calculate January's ending inventory and cost of goods sold for the month using LIFO. periodic system Cost of Goods Sold - Periodic LIFO LIFO Cost per Cost of Goods Available for Sale Cost of Goods Cost per al units unit Available for Sale 9.000 54.00 5 36,000 of units sold Cost of Goods Sold Ending Inventory - Periodic LIFO of units Cost per Ending in ending anit inventory Inventory $ 4.00 $ 4.00 $ Beginning inventory Purchases January 10 January 18 Total 5.00 6.00 $ $ 500 6.00 $ 30,000 54,000 120,000 6,000 $5.00 9.000 $ 6.00 24.000 $ S Corner Date of Purchase Jan. 10 Jan 15 Totals Units 6,000 9.00 15,000 Unit Cost $ 5 5 Total Cost $10,000 54,000 34.000 Includes purchase price and cost of freight Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 5,aee 3,000 6.ee 14,000 10,000 units were on hand at the end of the month Problem 8-5 (Algo) Part 2 2. Calculate January's ending inventory and cost of goods sold for the month using LIFO. periodic system Cost of Goods Sold - Periodic LIFO LIFO Cost per Cost of Goods Available for Sale Cost of Goods Cost per al units unit Available for Sale 9.000 54.00 5 36,000 of units sold Cost of Goods Sold Ending Inventory - Periodic LIFO of units Cost per Ending in ending anit inventory Inventory $ 4.00 $ 4.00 $ Beginning inventory Purchases January 10 January 18 Total 5.00 6.00 $ $ 500 6.00 $ 30,000 54,000 120,000 6,000 $5.00 9.000 $ 6.00 24.000 $ S Corner