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XYZ Co. had the following inventory activity during April: Units Unit Cost Beginning inventory 120 $10 Sale (April 3) (50) Purchase (April 10) 50 12
XYZ Co. had the following inventory activity during April: Units Unit Cost Beginning inventory 120 $10 Sale (April 3) (50) Purchase (April 10) 50 12 Purchase (April 18) 40 14 Sale (April 23) (100) Purchase (April 28) 50 15 Assuming XYZ uses a periodic FIFO cost flow assumption, cost of goods sold for April would be [ Select ] Assuming XYZ uses a periodic LIFO cost flow assumption, ending inventory for April would be [Select) ssuming XYZ uses a perpetual FIFO cost flow assumption, ending inventory for April would be Select) die Purchase (April 10) 50 12 Purchase (April 18) 40 14 Sale (April 23) (100) Purchase (April 28) 50 15 1. Assuming XYZ uses a periodic FIFO cost flow assumption, cost of goods sold for April would be [ Select 2. Assuming XYZ uses a periodic LIFO cost flow assumption, ending inventory for April would be [ Select ] 3. Assuming XYZ uses a perpetual FIFO cost flow assumption, ending inventory for April would be [ Select ] 4. Assuming XYZ uses a perpetual LIFO cost flow assumption, cost of goods sold for April would be [Select]
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