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January 1 inventory balance 200 units at $25.5 per unit March 2 purchase 100 units at $42 per unit April 10 sale 200 units July
January 1 inventory balance | 200 units at $25.5 per unit |
March 2 purchase | 100 units at $42 per unit |
April 10 sale | 200 units |
July 8 purchase | 160 units at $25.5 per unit |
October 12 sale | 160 units |
November 15 purchase | 60 units at $74 per unit |
December 31 inventory balance | 160 units |
Referring to the table above, the cost of ending inventory using the periodic LIFO method would be:
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