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Inventory information for Part 311 of Monoglot International Corp. discloses the following information for the 800 units @ $20 June 1600 units$25 1000 units@ $30
Inventory information for Part 311 of Monoglot International Corp. discloses the following information for the 800 units @ $20 June 1600 units$25 1000 units@ $30 400 units @ $40 1800 units $50 600 units e $60 Sold 1 Balance 11 Purchased 20 Purchased 10 15 Sold 27 Sold June Instructions a) Assuming that the periodic inventory method is used, What is cost of goods sold LIFO? (b) Assuming that the periodic inventory method is used, What is ending inventory LIFO1 el Assuming that the periodic inventory method is used, what is cost of goods sold FIFO? d) Assuming that the perlodic Invwentory method is used, what is ending Inventory under FIFO? e) Assuming that the perpetual inventory method is used, what is cost of goods sold LIFO? tn Assuming that the perpetual inventory method is used, what is ending inventory LIFO? e) Assuming that the perpetual inventory method is used, what is cost of goods sold FIFO? (h) Assuming that the perpetual inventory method is used, what is ending inventory under FIFO
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