Question
Inventory information for Part 311 of Bonita Corp. discloses the following information for the month of June. June 1 Balance 304 units @ $13 June
Inventory information for Part 311 of Bonita Corp. discloses the following information for the month of June. June 1 Balance 304 units @ $13 June 10 Sold 205 units @ $30 11 Purchased 804 units @ $15 15 Sold 504 units @ $32 20 Purchased 498 units @ $16 27 Sold 295 units @ $34 (a) Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO. (1) LIFO (2) FIFO Cost of Goods Sold $enter a dollar amount $enter a dollar amount Ending Inventory $enter a dollar amount $enter a dollar amount
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