How to calculate the ending inventory


Daniel Company uses a periodic inventory system. Data for 2012: beginning merchandise inventory, 2,180 units at $35; purchases, 7,970 units at $37; expenses , $193,000; ending inventory per physical count at December 31, 2012, 1,780 units; sales, 8,370 units; sales price per unit, $75; and average income tax rate, 32 percent.Can someone please show me how to calculate the Ending Inventory's FIFO and LIFO?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: How to calculate the ending inventory
Reference No:- TGS0675768

Expected delivery within 24 Hours