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Henry Company reported the following information for 2019. TRANSACTIONS UNITS UNIT COST 4,000 $ 4.00 Beginning Inventory - January 1 Purchases April 10 June 20
Henry Company reported the following information for 2019. TRANSACTIONS UNITS UNIT COST 4,000 $ 4.00 Beginning Inventory - January 1 Purchases April 10 June 20 October 26 3,000 2,000 1,000 5.00 6.00 6.50 During 2019, Henry sold 5,600 units. The company uses a periodic inventory system. REQUIRED: What is the value of ending inventory and cost of goods sold for 2019 under the following assumptions? 1. LIFO 2. Weighted average (HINT: carry out per-unit answer two decimal points, if applicable)
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