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please help on part b! Inventory information for Part 311 of Concord Corp. discloses the following information for the month of June. June 1 11
please help on part b!
Inventory information for Part 311 of Concord Corp. discloses the following information for the month of June. June 1 11 20 Balance Purchased Purchased 299 units @ $11 798 units @ $14 502 units @ $15 June 10 15 27 Sold Sold Sold 197 units @ $27 503 units @ $29 305 units @ $31 (a) Your answer is correct. Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO. (1) LIFO (2) FIFO Cost of Goods Sold $ 14572 $ 13173 Ending Inventory $ 7419 $ 8818 Attempts: 1 of 2 used (b) * Your answer is incorrect. Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory at LIFO? The ending inventory at LIFO $ 8316Step by Step Solution
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