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Lily Co. uses a periodic inventory system. Its records show the following for the month of May, in which 69 units were sold. Unit
Lily Co. uses a periodic inventory system. Its records show the following for the month of May, in which 69 units were sold. Unit Total Units Cost Cost 8 8 8|| 32 $6 $192 27 9 243 32 10 $755 10 May 1 Inventory 15 Purchases 24 Purchases Totals 91 Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. Ending inventory at May 31 $ Cost of goods sold FIFO LIFO $ $
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