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Dec. 3 Purchased 4,200 units of inventory on account at a cost of $0.76 per unit. 5 Sold 4,600 units of inventory on account for
Dec. 3 Purchased 4,200 units of inventory on account at a cost of $0.76 per unit. 5 Sold 4,600 units of inventory on account for $0.90 per unit. (Carla Vista sold 3,200 of the $0.60 units and 1,400 of the $0.76 units.) 7 Granted the December 5 customer $180 credit for 200 units of inventory returned costing $152. These units were returned to inventory. 17 Purchased 2,200 units of inventory for cash at $0.80 each, 22 Sold 2,000 units of inventory on account for $0.99 per unit. (Carla Vista sold 2,000 of the $0.76 units.) Compute ending inventory and cost of goods sold under FIFO, assuming Carla Vista Company uses the periodic inventory system. Ending inventory Cost of goods sold Compute ending inventory and cost of goods sold under LIFO, assuming Carla Vista Company uses the periodic inventory system. Ending inventory $ Cost of goods sold $ Dec. 3 Purchased 4,200 units of inventory on account at a cost of $0.76 per unit. 5 Sold 4,600 units of inventory on account for $0.90 per unit. (Carla Vista sold 3,200 of the $0.60 units and 1,400 of the $0.76 units.) 7 Granted the December 5 customer $180 credit for 200 units of inventory returned costing $152. These units were returned to inventory. 17 Purchased 2,200 units of inventory for cash at $0.80 each, 22 Sold 2,000 units of inventory on account for $0.99 per unit. (Carla Vista sold 2,000 of the $0.76 units.) Compute ending inventory and cost of goods sold under FIFO, assuming Carla Vista Company uses the periodic inventory system. Ending inventory Cost of goods sold Compute ending inventory and cost of goods sold under LIFO, assuming Carla Vista Company uses the periodic inventory system. Ending inventory $ Cost of goods sold $
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