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I got the first part done but I am getting so lost on how to calculate the perpetual method. Inventory information for Part 311 of
I got the first part done but I am getting so lost on how to calculate the perpetual method.
Inventory information for Part 311 of Tamarisk Corp. discloses the following information for the month of June. June 1 Balance 302 units @ $15 June 10 Sold 200 units @ $35 11 Purchased 796 units @ $18 15 Sold 499 units @ $37 20 Purchased 501 units @ $19 27 Sold 301 units @ $40 Your answer is correct. Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO. (1) LIFO FIFO Cost of Goods Sold A 18501 17094 " Ending Inventory A $ 9876 " 11283 X Your answer is incorrect. Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory at LIFO? The ending inventory at LIFO $ X Your answer is incorrect. Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the gross profit if the inventory is valued at FIFO? Gross Profit (FIFO) $Step by Step Solution
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