Question
E7-5 (Static) LIFO Inventory Calculations [LO 7-3] Just One Product (JOP) began operating on June 26 with no inventory on hand. It then made
E7-5 (Static) LIFO Inventory Calculations [LO 7-3] Just One Product (JOP) began operating on June 26 with no inventory on hand. It then made the purchases listed below. JOP sold and delivered 46 units on June 30. Date June 27 Description Units Unit Cost Total Cost June 28 Purchase Purchase 12 38 58 9 $ 90 342 June 29 Purchase 20 11 220 Required: 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending inventory at June 30. 3. Calculate the cost of ending inventory and the cost of goods sold under LIFO Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the cost of ending Inventory and the cost of goods sold under LIFO. Cost of Ending Inventory Cost of Goods Sold LIFO
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