The periodic inventory records of

Synthetix

Prosthetics indicate the following for the month of

December:

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At

December

31,

Synthetix

counts

seven

units of inventory on hand.

Compute ending merchandise inventory and cost of goods sold for

Synthetix

using the LIFO inventory costing method.

	LIFO Cost
Ending Merchandise Inventory
Cost of Goods Sold

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Data Table

Dec. 1	Beginning merchandise inventory	10 units @ $40 each
Dec. 8	Purchase	12 units @ $45 each
Dec. 15	Purchase	15 units @ $45 each
Dec. 26	Purchase	10 units @ $50 each

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