LIFO METHOD

Company Sold 420. Units

[1] Calculate the total units and total cost of goods available for sale

Date	Units	Unit Cost	Total
Beginning	200	$ 2.60
5/2	100	3.00
6/10	50	3.50
7/8	80	4.00
8/15	90	4.20
Total Cost of Goods Available for sale

[2] Calculate the Ending Inventory

Date	Units	Unit Cost	Total

[3] Calculate Cost of Goods Sold

Cost of goods available for sale minus ending inventory