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TB EX Qu. 6-213 (Static) During 2024, a company sells 400 units... During 2024, a company sells 400 units of inventory for $85 each. The
TB EX Qu. 6-213 (Static) During 2024, a company sells 400 units... During 2024, a company sells 400 units of inventory for $85 each. The company has the following inventory purchase transactions for 2024: Date January 1 May 5 November 3 Transaction Beginning inventory Purchase Purchase Number of Units 60 180 190 430 Unit Cost $70 72 75 Total Cost $4,200 12,960 14,250 $31,410 Calculate ending inventory and cost of goods sold for 2024 assuming the company uses LIFO. * Answer is complete but not entirely correct. Ending inventory $ 2,191 X Cost of goods sold $ 29,219 %
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