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Grouper Company's inventory records show the following data for the month of September: Units Unit Cost Inventory, September 1 110 $3.10 Purchases: September 8 440
Grouper Company's inventory records show the following data for the month of September:
Units | Unit Cost | |||||||
---|---|---|---|---|---|---|---|---|
Inventory, | September 1 | 110 | $3.10 | |||||
Purchases: | September 8 | 440 | 3.50 | |||||
September 18 | 300 | 3.75 |
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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