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The periodic inventory records of Spacely's Sprockets indicate the following for the month of July: July 1 beginning merchandise inventory 18 units @ $55
The periodic inventory records of Spacely's Sprockets indicate the following for the month of July: July 1 beginning merchandise inventory 18 units @ $55 each. July 8 purchase 15 units @ $60 each. July 15 purchase 12 units @ $61 each. July 26 purchase 11 units @ $62 each. On July 31, Spacely counts 9 units of merchandise on hand. Computing periodic inventory amounts - LIFO Ending merchandise inventory is... Date Units TOTAL Cost = Total Units Date Cost of goods sold... Date TOTAL Cost Total Units Cost Total TOTAL
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