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The following is a record of Blue Company's transactions for Boston Teapots for the month of May 2020, Balance May 1 488 units @ Sale
The following is a record of Blue Company's transactions for Boston Teapots for the month of May 2020, Balance May 1 488 units @ Sale $22.00 May 10 366 units @ $39.00 12 Purchase 732 units $23.00 20 Sale @ $39.00 659 units 28 Purchase 488 units @ $32.00 (a) Assuming that perpetual inventories are not maintained and that a physical count at the end of the month shows 683 units hand, what is the cost of the ending inventory using (1) FIFO and (2) LIFO? (1) FIFO (2) LIFO $ $ Ending Inventory
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