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Problem VIII: (12 pts) Miller Inc. has the following information available for October: Date Units Cost per unit Oct 1 50 $100 Beginning inventory Purchase

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Problem VIII: (12 pts) Miller Inc. has the following information available for October: Date Units Cost per unit Oct 1 50 $100 Beginning inventory Purchase Oct 5 25 $120 Oct 10 Sale (70) Oct 29 Purchase 100 $130 Oct 31 Sale (80) Required: Compute the cost of goods sold and the cost of ending inventory under each of the following inventory method systems and assumptions. Only the answers in the spaces will be graded. Clearly show calculations below or on scrap paper to receive partial credit. Perpetual FIFO Periodic LIFO Perpetual LIFO Cost of Goods Sold Accounting Check: Do your two answers for each method add up to the total cost of goods available for sale? Please note errors can still occur even when accounting checks work out. Cost of Ending Inventory Space for calculations: (add space or paper if necessary)

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