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Harish Corp. has the following inventory information available for the month of December: Date December 1 Beginning Inventory30 December 10 Purchases December 20 Purchases Number
Harish Corp. has the following inventory information available for the month of December: Date December 1 Beginning Inventory30 December 10 Purchases December 20 Purchases Number of Units Cost per unit $8 $12 $15 40 80 The company sold 115 units in December. Required: Using the above information, fill in the chart below with the amounts that should be reported for total cost of goods sold for December and the cost of ending inventory at Dec 31 under both the LIFO and FIFO cost flow assumptions. Do not include commas or a decimal point in the answers LIFO FIFO Cost of Goods Sold Cost of Ending Inventory
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