Question
Inventory Information for Part 311 of Connorhouse Corp. disclosures the following information for the month of June. June 1 Balance 301 units @ $15. June
Inventory Information for Part 311 of Connorhouse Corp. disclosures the following information for the month of June.
June 1 Balance 301 units @ $15. June 10 Sold 203 units @ $37
June 11 Purchased 797 units @ $18. June 15 Sold 497 units @ $38
June 20 Purchased 497 units @ $20. June 27 Sold 298 units @ $41
Assuming that the periodic inventory method is used, using LIFO how much is the cost of goods sold and ending inventory prices ?
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
