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Feaser Inc. had a beginning inventory on October 1 of 50 units of goods at a cost of $30 per unit. During the year, the
Feaser Inc. had a beginning inventory on October 1 of 50 units of goods at a cost of $30 per unit. During the year, the following purchases, purchase returns, sales and sales returns were made Oct Os Sale 30 units at $82 Oct 15 Sale 65 units at $90 Oct 07 Sale return 5 units at $82 Oct 16 Sale return 10 units at $90 Oct 10 Purchase 95 units at $44 Oct 20 Purchase 50 units at $50 Oct 10 Purchase return 10 units at 544 Oct 28 Sale 35 units at $90 The Feaser Store uses a periodic inventory system. (a) Determine the cost of goods available for sale (b) Determine the (1) cost of ending inventory and (2) cost of goods sold under FIFO and LIFO method of cost flow
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