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(CH6) Betty and Bob sell high end fountain pens. Below is their goods available for sale (beginning inventory plus purchases) as of 12/31. As of
(CH6) Betty and Bob sell high end fountain pens. Below is their goods available for sale (beginning inventory plus purchases) as of 12/31. As of 12/31 they had 805 units in ending inventory. Compute their ending inventory and cost of goods sold values as of 12/31 using the LIFO method: Cost per Unit LIFO Cost of Goods Sold Date Units Total Units Cost Total 6/5 7/5 9/9 11/10 12/1 12/15 220 415 120 365 115 295 5.00 8.00 4.00 7.00 11.00 15.00 1,100 3,320 480 2,555 1,265 4,425
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