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Using LIFO, calculate ending inventory and cost of goods sold at October 31. Date Transactions Units Cost per Unit Total Cost October 1 Beginning inventory

Using LIFO, calculate ending inventory and cost of goods sold at October 31.

Date Transactions Units Cost per Unit Total Cost
October 1 Beginning inventory 6 $710 $ 4,260
October 4 Sale 4
October 10 Purchase 5 720 3,600
October 13 Sale 3
October 20 Purchase 4 730 2,920
October 28 Sale 7
October 30 Purchase 7 740 5,180
$15,960

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