| June 1 |
Balance |
299 units @ $13 |
June 10 |
Sold |
198 units @ $32 |
| 11 |
Purchased |
804 units @ $16 |
15 |
Sold |
495 units @ $33 |
| 20 |
Purchased |
500 units @ $17 |
27 |
Sold |
305 units @ $36
|
Using the period inventory method. How do you get the cost of goods sold and ending inventory?
Assuming the perpetual inventory method is used and costs are computed at time of each withdrawal, what is the value of ending inventory at LIFO?