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Suppose Greg's Tunes has the following inventory records for July 2013: Operating expense for July was $1900. Date Item Quantity Unit Cost Sale Price 1

Suppose Greg's Tunes has the following inventory records for July 2013:

Operating expense for July was $1900.

Date Item Quantity Unit Cost Sale Price

1 Beginning Inventory 100 units $8

10 Purchase 60 units $9

15 Sale 70 units $20

21 Purchase 100 units $10

30 Sale 90 units $25

calculate inventory amounts using FIFO & LIFO methods.

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