The following units of an item were available for sale during the year:
Beginning inventory
4...
Business, 22.10.2020 01:01 katrinanuez
The following units of an item were available for sale during the year:
Beginning inventory
40 units at $43
Sale
6 units at $69
First purchase
17 units at $44
Sale
10 units at $71
Second purchase
17 units at $45
Sale
23 units at $72
The firm uses the perpetual inventory system, and there are 35 units of the item on hand at the end of the year.
a. What s the total cost of the ending inventory according to FIFO?
b. What is the total cost of the ending inventory according to LIFO?
$
Answers: 3
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