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Flounder Company's inventory records show the following data for the month of September: Units Unit Cost Inventory, September 1 90 $3.20 Purchases: September 8 450
Flounder Company's inventory records show the following data for the month of September:
Units | Unit Cost | |||||||
---|---|---|---|---|---|---|---|---|
Inventory, | September 1 | 90 | $3.20 | |||||
Purchases: | September 8 | 450 | 3.50 | |||||
September 18 | 290 | 3.90 |
A physical inventory on September 30 shows 150 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses LIFO inventory costing and a periodic inventory system.
Ending inventory | $enter a value of ending inventory in dollars | ||
Cost of goods sold | $enter a cost of goods sold in dollars |
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