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Nov. 1 Inventory 1 5 units @ $ 8 . 0 0 8 Purchase 6 0 units @ $ 8 . 6 0 1 7
Nov. Inventory units @ $
Purchase units @ $
Purchase units @ $
Purchase units @ $
A physical count of merchandise inventory on November th reveals that there are units on hand. Assyme a periodic inventory system is used.
A Ending inventory under FIFO is:
B Endung inventory under LIFO is:
C Assuming that the specific identification method is used and that ending inventory consists of units from each of the three purchases and units from the November inventory, cost of goods sold is:
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