Using the data in P6 5A, compute the cost of the ending inventory using the LIFO cost flow assumption Assume that Senta Ltd uses the periodic inventory system In P6 5A, Unit Cost or Selling Price 24 26 35 27 40 28 40 Date Description October Beinning inventory October 9 Purchase October Sale Octobe...

Cost of Goods Available for Sale Date Explanation Units Unit Cost Total Cost Octo ...

Using the data in P6-5A, compute the cost of the ending inventory using the LIFO cost flow

Question:

Using the data in P6-5A, compute the cost of the using the LIFO cost flow assumption. Assume that Senta Ltd. uses the periodic inventory system.
In P6-5A,

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...