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Inventory information for Part 311 of Ivanhoe Corp. discloses the following information for the month of June. June 1 Balance 11 Purchased 20 Purchased 302
Inventory information for Part 311 of Ivanhoe Corp. discloses the following information for the month of June. June 1 Balance 11 Purchased 20 Purchased 302 units @ $17 795 units @ $20 498 units @ $22 June 10 1 5 27 Sold Sold Sold 200 units @ $40 496 units @ $42 299 units @ $45 Your answer is partially correct. Try again. 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 | 20899 18994 Ending Inventory 110944 12999 Your answer is correct. Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory at LIFO? The ending inventory at LIFO I 12092]
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