III. LIFO: LAST ONE IN, FIRST ONE OUT Aug. 14 Aug 17 Aug 28 Aug 31 Date Activity Aug. Beginning inventory Aug, 3 Purchases ... Sales Purchases Purchases Sales Totals Units Acquired at Cost Units Sold at Retail Unit Inventory 10 units @ $ 91 = $ 910 10 units 15 units @ $106 = $ 1.590 25 units 20 units @ $130 5 units 20 units @ $115 = $2.300 $ 25 units 10 units @ $119 = $1,190 35 units 23 units @ $150 12 units 55 units $5,990 43 units Units wailable for sale Goods available for sale Units sold Units left Inventory Method: Date Inventory Purchases COGS Ending Inventory