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Inventory information for Part 311 of Marigold Corp. discloses the following information for the month of June. June 1 Balance 302 units @ $11 June
Inventory information for Part 311 of Marigold Corp. discloses the following information for the month of June. June 1 Balance 302 units @ $11 June 10 Sold 198 units @ $27 11 Purchased 803 units @ $13 15 Sold 498 units @ $28 20 20 Purchased 498 units @ $14 27 Sold 296 units @ $30 (a) Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO. Cost of goods sold SA $ Ending inventory $ (1) LIFO SA $ $ FIFO
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