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Esquire Inc. uses the LIFO method to value its inventory. Inventory at January 1, 2013, was $792,000 (36,000 units at $22 each). During 2013, 112,000

Esquire Inc. uses the LIFO method to value its inventory. Inventory at January 1, 2013, was $792,000 (36,000 units at $22 each). During 2013, 112,000 units were purchased, all at the same price of $30 per unit. 116,000 units were sold during 2013. Esquire uses a periodic inventory system.

Complete the below table to calculate the December 31, 2013, ending inventory and cost of goods sold.

Cost of goods available for sale

BEGINNING INVENTORY # of units______? cost per unit________?

COGS-Period LIFO

# of units sold _________?

Ending Inventory-Periodic LIFO

# of units in ending inventory?

PURCHASES

COST OF GOODS AVAILABLE FOR SALE

# OF UNITS______?

Cost per unit____?

COGS PERIODIC LIFO

#of units sold_____?

ENDING INVENTORY PERIODIC LIFO

# of units in ending inventory_____?

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