I have worked the problem but I am a little confused by my answers, can I get

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I have worked the problem but I am a little confused by my answers, can I get someone to check it for me please? My answers are listed below.

Davis Company had the following information for the year ending December 31:

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Units Unit Cost Beginning inventory 300 at $45

Purchase: April 6 490 at $41

Sale: May 4 240

Purchase: July 19 500 at $40

Sale: September 9 590

Purchase: October 10 240 at $38

Davis uses the perpetual inventory system and the LIFO method.

Required:

Using LIFO

(a) Compute the cost of ending inventory.

(b) Compute the cost of goods sold for the year.

Cost of ending inventory : My answer $36000

Cost of goods sold : My answer $33,530

Posted Date: Jun 23, 2024 01:06 AM

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