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The following are the inventory records of the Garret Company: Units Cost 40 $12 Total $ 480 20 13 260 January 1 Purchases: February 10

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The following are the inventory records of the Garret Company: Units Cost 40 $12 Total $ 480 20 13 260 January 1 Purchases: February 10 July 15 November 1 December 10 Available 40 14 15 50 30 180 560 750 480 52 530 16 Ending inventory consists of 30 units from the July purchase. Calculate ending inventory and cost of goods sold using LIFO

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