Question
Joy Co.'s recorded inventory information for the month of August is as follows: Beginning Inventory 22 units at $15 each First Purchase 25 units at
Joy Co.'s recorded inventory information for the month of August is as follows:
| Beginning Inventory | 22 units at $15 each |
| First Purchase | 25 units at $18 each |
| Second Purchase | 21 units at $20 each |
| Sales | 48 units |
a. Determine the total cost of ending inventory according to FIFO method. $
b. Determine the total cost of ending inventory according to LIFO method.
$
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Company Accounting
Authors: Ken Leo, John Hoggett, John Sweeting, Jennie Radford
8th Edition
0470819731, 978-0470819739
