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Practice Problem #1 Transaction Beginning Inventory Purchase Sold Sold Purchase Sold Purchase # of Units Unit Cost 20 $2,200 25 $2,250 10 14 15 26

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Practice Problem #1 Transaction Beginning Inventory Purchase Sold Sold Purchase Sold Purchase # of Units Unit Cost 20 $2,200 25 $2,250 10 14 15 26 20 $2,300 $2,350 According to the table above, there are 30 units in the ending inventory. Required: What is the cost of these units under each of the following assumptions? a. FIFO/Periodic b. FIFO/Perpetual CLIFO/Periodic d. LIFO/Perpetual e. Average Cost/Periodic f. Average Cost/Perpetual

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