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The beginning inventory was 4 9 0 units at a cost of $ 8 per unit. Goods available for sale during the year were 1
The beginning inventory was units at a cost of $ per unit. Goods available for sale during the year were units at a total cost of $ In May, units were purchased at a total cost of $ The only other purchase transaction occurred during October. Ending inventory was units.
Required:
Calculate the number of units purchased in October and the cost per unit purchased in October.
Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using FIFO method.
Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using LIFO method.
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