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Homework Answers
Units in ending inventory = Units available for sale - Units sold = (58+49+70+39) - 140 = 76 units
| Cost of Goods Sold | Ending inventory | |
| Lifo |
= (39*24)+(70*22)+(31*21) = 3127 |
= (58*20)+(76-58)*21 = 1538 |
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I need the four blank boxes
answered with the solutions on how to do them
Inventory Costing Methods Morrison Inc. reported the following information for the month of October: Inventory, October 1 67 units @ $22 Purchase: October 7 55 units @ $24 October 18 58 units @ $25 October 27 45 units @ $27 During October, Morrison sold 144 units. The company uses a periodic inventory system. Required: What is the value of ending inventory and cost of goods...
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