LIFO Cost Flow Assumption /Perpetual Inventory

List of Beg Inv and Purchases: Sales:

6/1 Beg Inv 300 u @ $10 6/10 200 u @ $24 each

6/11 800 u @ 12 6/15 500 u @ $25 each

6/20 500 u @ 13 6/27 300 u @ $75 each

The physical count on June 30 indicates that 580 units remain in ending inventory.

Date	Purchases	Sales	Cost of Sales	Balance in Inventory

LIFO/Periodic

List of Beg Inv and Purchases: Sales:

6/1 Beg Inv 300 u @ $10 6/10 200 u @ $24 each

6/11 800 u @ 12 6/15 500 u @ $25 each

6/20 500 u @ 13 6/27 300 u @ $75 each

The physical count on June 30 indicates that 580 units remain in ending inventory.