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During June, the following changes in inventory item 27 took place: June 1 Balance 1,380 units @ $38 14 Purchased 830 units @ $55 24
During June, the following changes in inventory item 27 took place:
June 1 | Balance | 1,380 units | @ $38 | |||
14 | Purchased | 830 units | @ $55 | |||
24 | Purchased | 600 units | @ $44 | |||
8 | Sold | 370 units | @ $70 | |||
10 | Sold | 1,010 units | @ $64 | |||
29 | Sold | 460 units | @ $68 |
Perpetual inventories are maintained.What is the cost of the ending inventory for item 27 under the FIFO method?
Cost of the ending inventory | $ |
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What is the cost of the ending inventory for item 27 under the LIFO method?
Cost of the ending inventory | $ |
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