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TB EX Qu. 6-204 During 2021, a company sells... During 2021, a company sells 20 units of inventory. The company has the following inventory purchase
TB EX Qu. 6-204 During 2021, a company sells... During 2021, a company sells 20 units of inventory. The company has the following inventory purchase transactions for 2021: Date Transaction Jan. 1 Beginning inventory Sep. 8 Purchase Number of Units 19 12 31 Unit Cost Total Cost $53 $1,007 55 660 $1,667 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses LIFO. Ending inventory Cost of goods sold
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