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Need help with these 4 questions, thank you. Given the following: Number purchased 39 59 Cost per unit $ 5 January 1 inventory April 1
Need help with these 4 questions, thank you.
Given the following: Number purchased 39 59 Cost per unit $ 5 January 1 inventory April 1 June 1 November 1 Total $ 195 472 441 540 $1,648 49 00019 10 54 201 a. Calculate the cost of ending inventory using the LIFO (ending inventory shows 60 units). Cost of ending inventory b. Calculate the cost of goods sold using the LIFO (ending inventory shows 60 units). Cost of goods sold If Exxon uses FIFO for its inventory valuation, calculate the cost of ending inventory and cost of goods sold if ending inventory is 100 barrels of crude oil. Beginning inventory and purchases Beginning inventory: Jan 1 March 1 June 1 September 1 December 1 Barrels 122 47 62 72 47 350 Barrel cost $ 95 101 98 90 103 Total cost $11,590 4,747 6,076 6,480 4,841 $33,734 Cost of ending inventory Cost of goods soldStep by Step Solution
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