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Lambeth Company experienced the following events in January: Date Jan. 10 Purchased inventory 100$12 Jan. 20 Purchased inventory 200 Jan. 30 Sold inventory Event Units
Lambeth Company experienced the following events in January: Date Jan. 10 Purchased inventory 100$12 Jan. 20 Purchased inventory 200 Jan. 30 Sold inventory Event Units Unit Cost Total Cost $1,200 14 $2,800 150 If the Lambeth Company uses the FIFO inventory costing method, calculate the company's cost of goods sold and its ending inventory as of January 31 assuming the periodic method. Cost of goods sold Ending inventory
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