lifo for E/I

FIFO for cogs

on September 1. the beginning inventory for Koppel Company was 110 units at $200 each. Purchases and sales during September were: Purchases During Sept 2016 120 units @ $224 Sept 17 70 units @ $176 Sept 25 100 units @ $168 Sales During Sept 2016 Sept 12 70 units Sept 22 110 units Sept 29 90 units Topic: LIFO Inventory Costing Method LO: 2 Level of Difficulty: MEDIUM 1. What is the cost of ending inventory for Koppel Company on September 30 if the penodic LIFO costing method is used? A) $28,640 B) $22,080 C) $26,480 D) $26,000 Topic: FIFO Inventory Costing Method LO: 2 Level of Difficulty: MEDIUM 2. What is the cost of goods sold for September for Koppel Company if the periodic FIFO costing method is used? A) $54,960 B) $51,520 C) $55,920 D) $55,600