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Inventory information for Part 311 of Vaughn Corp. discloses the following information for the month of June. June 1 Balae 298 units $10 June 10
Inventory information for Part 311 of Vaughn Corp. discloses the following information for the month of June. June 1 Balae 298 units $10 June 10 Sold 199 units$24 15 Sold 497 units@ $26 27 Sold 295 units@ $28 11 Purchased 797 units@ $12 20 Purchased 505 units @$13 Your answer is correct. Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO. LIFO FIFO Cost of Goods Sold 2397 1296 Ending Inventory 712 Attempts: 1 of 10 used 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 Attempts: 0 of 10 used
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