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Gamma Company had the following inventory activity during January. Gamma uses a perpetual inventory system and the LIFO cost flow assumption. Unit Date Units Cost,
Gamma Company had the following inventory activity during January. Gamma uses a perpetual inventory system and the LIFO cost flow assumption.
Unit | |||
Date | Units | Cost, $ | |
Beginning Inventory | 1-Jan | 150 | 31 |
Purchase | 8-Jan | 150 | 33 |
Sale | 13-Jan | 180 | |
Purchase | 16-Jan | 150 | 35 |
Sale | 22-Jan | 130 |
Calculate the following numbers and write your answers in the spaces provided below:
# of Units | Total Cost | |
Available for Sale | ||
Inventory, January 31st | ||
Goods Sold |
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