Calculate the LIFO cost of goods sold and ending inventory for 2018 and 2019 assuming use of (a) the peri-odic method and (b) the perpetual method E6.14Calculating LIFO Inventory Values. The Brattle Corporation began operations in 2018. Information relat-ing to the company's purchases of inventory and sales of products for 2018 and 2019 is presented below.2018February 1May 1August 1October 1220 units @ $12 per unit120 units @ $25 per unit100 units @ $15 per unit130 units @ $25 per unitPurchaseSoldPurchaseSold2019February 1May 1August 1October 1$16 per unit80 units @ $30 per unit100 units @ $18 per unit@ $35 per unitPurchase70 units @SoldPurchaseSold90 unitsCalculate the LIFO cost of goods sold and ending inventory for 2018 and 2019 assuming use of (a) the peri-odic method and (b) the perpetual method.

LIFO method stands for Last In First Out. Under this method, the inventory purchased recently is…

Calculating LIFO Inventory Values. The Brattle Corporation began operations in 2018. Information relat- ing to the company's purchases of inventory and sales of products for 2018 and 2019 is presented below. 2018 February 1 May 1 August 1. October 1 2019 February 1 May 1. Purchase Sold Purchase Sold Purchase Sold 220 units @ 120 units @ 100 units @ 130 units @ 70 units @ 80 units @ $12 per unit $25 per unit $15 per unit $25 per unit $16 per unit $30 per unit

Calculating LIFO Inventory Values. The Brattle Corporation began operations in 2018. Information relat- ing to the company's purchases of inventory and sales of products for 2018 and 2019 is presented below. 2018 February 1 May 1 August 1. October 1 2019 February 1 May 1. Purchase Sold Purchase Sold Purchase Sold 220 units @ 120 units @ 100 units @ 130 units @ 70 units @ 80 units @ $12 per unit $25 per unit $15 per unit $25 per unit $16 per unit $30 per unit

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Question

Calculate the LIFO cost of goods sold and ending inventory for 2018 and 2019 assuming use of (a) the peri-odic method and (b) the perpetual method

E6.14
Calculating LIFO Inventory Values. The Brattle Corporation began operations in 2018. Information relat-
ing to the company's purchases of inventory and sales of products for 2018 and 2019 is presented below.
2018
February 1
May 1
August 1
October 1
220 units @ $12 per unit
120 units @ $25 per unit
100 units @ $15 per unit
130 units @ $25 per unit
Purchase
Sold
Purchase
Sold
2019
February 1
May 1
August 1
October 1
$16 per unit
80 units @ $30 per unit
100 units @ $18 per unit
@ $35 per unit
Purchase
70 units @
Sold
Purchase
Sold
90 units
Calculate the LIFO cost of goods sold and ending inventory for 2018 and 2019 assuming use of (a) the peri-
odic method and (b) the perpetual method.

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