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Given the following: Total $ 135 Number purchased 45 65 55 60 225 January 1 inventory April 1 June 1 November 1 Cost per unit
Given the following: Total $ 135 Number purchased 45 65 55 60 225 January 1 inventory April 1 June 1 November 1 Cost per unit $3 6 7 8 390 385 480 $ 1,390 a. Calculate the cost of ending inventory using the LIFO (ending inventory shows 66 units). Cost of ending inventory $ 408 b. Calculate the cost of goods sold using the LIFO (ending inventory shows 66 units). Cost of goods sold $ 983
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