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Go Griz Company has a perpetual inventory system and uses the LIFO method of inventory costing. Go Griz reported the following events during the month
Go Griz Company has a perpetual inventory system and uses the LIFO method of inventory costing. Go Griz reported the following events during the month of June:
Number of Units | ||||
Date | Event | Bought | Sold | Unit Price |
June 1 | Beginning Inv. | 100 | $10 | |
3 | Purchase | 75 | 11 | |
5 | Sale | 50 | ||
10 | Purchase | 140 | 12 | |
16 | Sale | 65 | ||
21 | Sale | 90 | ||
25 | Purchase | 175 | 14 | |
30 | Sale | 120 |
15. The cost of goods sold for the June 21st sale is:
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