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Given the following: Number purchased 30 50 January 1 inventory April i June 1 November 1 Cost per unit $ 5 8 9 10 40
Given the following: Number purchased 30 50 January 1 inventory April i June 1 November 1 Cost per unit $ 5 8 9 10 40 Total $ 150 400 360 450 $ 1,360 45 165 a. Calculate the cost of ending inventory using the LIFO (ending inventory shows 51 units). Cost of ending inventory b. Calculate the cost of goods sold using the LIFO (ending inventory shows 51 units). Cost of goods sold
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