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In itss first month of transactions , amaids Co made three purchases of merchandise in the following sequence: 1) 300 units at $6 per unit,
In itss first month of transactions , amaids Co made three purchases of merchandise in the following sequence: 1) 300 units at $6 per unit, 2) 400 units at $8 per unit and 3) 500 units $9 per unit. Assuming here are 200 units on hand at he end of the period, compute gthe cost of the ending inventory under
a) FIFO and
b) LIFO. Amaids uses a periodic inventory system.
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