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The units of Product YY2 available for sale during the year were as follows: Apr. 1 Inventory 16 units at $30 each June 16 Purchase
The units of Product YY2 available for sale during the year were as follows: Apr. 1 Inventory 16 units at $30 each June 16 Purchase 30 units at $33 each Sept. 28 Purchase 45 units at $37 each There are 15 units of the product in the physical inventory at March 31. The periodic inventory system is used. Determine the difference in gross profit between the LIFO and FIFO inventory cost systems. FIFO cost of goods sold $fill in the blank 1 LIFO cost of goods sold $fill in the blank 2 Difference $fill in the blank 3
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