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DePaul Corporation has the following information for its inventory for the month of November, 2020. Date Description Quantity Price 11/1 Beginning 2,000 $4.00 11/8 Purchase
DePaul Corporation has the following information for its inventory for the month of November, 2020.
Date | Description | Quantity | Price |
11/1 | Beginning | 2,000 | $4.00 |
11/8 | Purchase | 8,000 | $4.40 |
11/14 | Sold | 6,000 | $11.00 |
11/18 | Purchase | 6,000 | $4.80 |
11/25 | Sold | 7,000 | $11.50 |
11/28 | Purchase | 4,000 | $5.00 |
11/29 | Sale | 6,000 | $12.00 |
DePaul Corporation uses the perpetual inventory system.
Determine COGS and Ending Inventory for November, 2020 using LIFO. Show all of your work. Clearly label your final answer.
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