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Problem 8 - 7 ( Algo ) Various inventory costing methods [ LO 8 - 1 , 8 - 4 ] [ The following information
Problem Algo Various inventory costing methods LO
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Auto Dealers Incorporated sells a handmade automobile as its only product. Each automobile is identical; however, they can be distinguished by their unique ID number. At the beginning of Auto Dealers had three cars in inventory, as follows:
tableCar IDCost$
When calculating the ending inventory and cost of goods sold assuming LIFO and a periodic inventory system, i got $ as my ending inventory, and $ as my cost of goods sold. BOTH WERE INCORRECT. Please help me solve for those two correctly. Will upvote if all parts are correct.
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