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i just need help with the cost of ending inventory and cost of goods sold for LIFO. E7-14 Analyzing and Interpreting the Effects of the

i just need help with the cost of ending inventory and cost of goods sold for LIFO. image text in transcribed
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E7-14 Analyzing and Interpreting the Effects of the LIFO/FIFO Choice on Inver 2, LO 7-3, LO 7-5] Simple Plan Enterprises uses a periodic inventory system. Its records showed the following: Inventory. December 31, using FIFO 38 units @ $14-$532 Inventory, December 31, using LIFO38 Units@ $10 $380 Tota Cost Uni Units Cost Transactions in the Following Yean Purchase, January 9 Purchase, January 20 Sale, January 11 (at $38 per unit) Sale, January 27 (at $39 per unit) 15 750 16 1,680 50 100 80 56 Required: 1. Compute the number and cost of goods available for sale, the cost of ending inventory, and the LIFO or ratio under the FIFQ and LIFO inventory costing methods

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