Inventory Analysis are using the LIFO method.

The wake trading company discloses the following information for the month of October

2018.

Dec. 01: Beginning inventory 500 units @ $14 each.

Dec. 07: Purchased 2,500 units @ $14.50 each.

Dec. 10: Sold 1,500 units @ $20.00 each.

Dec. 15: Sold 1,300 units @ $20.50 each.

Dec. 20: Customer returned 500 units from Dec.10 sale (returns are in inventory)

Dec. 24: Purchased 2,000 @ $14.00 each.

Dec 27: Sold 2,500 units @ $19.00 each.

Calculate total revenue:

_______________ Units @ __________

_______________ Units @ __________

_______________ Units @ __________

_______________ Units @ __________ ______________

DATE PURCHASES SALES BALANCE

Dec 1

Beginning Balance

Dec 7

Dec 10

Dec 15

Dec 20

Dec 24

Dec 27