Using LIFO

Problem 8-8 (Part Level Submission) John's Televisions produces television sets in three categories: portable, mid company's January 1 inventory consists of: Category Cost per Unit Total Cost Quantity Portable 719,800 5,900 $122 Midsize 8,400 305 2,562,000 Flat-screen 3,000 488 1,464,000 17,300 $4,745,800 During 2017, the company had the following purchases and sales. Quantity Selling Price Sold Quantity Purchased per Unit Category Cost per Unit Portable $183 15,200 $134 14,500 Midsize 20,500 366 23,900 494 Flat-screen 10,100 610 5,900 732 44,300 45,800