P3. Inventory Cost Flow Methods London Company who use a periodic inventory system sold 600 units of inventory in April. In addition, the following information is available (2 pts.). Please properly use "comma" in numbers as follows: 6,000 and 1,234,567 April 1 Inventory 250 units @ $10 $2,500 April 15 purchase 400 units @ $12 4,800 April 23 purchase 350 units @ $13 4,550 1,000 units $ 11,850 Determine the ending inventory and cost of goods sold during the period using the FIFO method and the LIFO method. Please properly use "comma" in numbers (numeric values) as follows: 6,000, 1,234,567 etc. FIFO Ending Inventory CGS $ LIFO Ending Inventory CGS $
P3. Inventory Cost Flow Methods London Company who use a periodic inventory system sold 600 units of inventory in April. In addition, the following information is available (2 pts.). Please properly use "comma" in numbers as follows: 6,000 and 1,234,567 April 1 Inventory 250 units @ $10 $2,500 April 15 purchase 400 units @ $12 4,800 April 23 purchase 350 units @ $13 4,550 1,000 units $ 11,850 Determine the ending inventory and cost of goods sold during the period using the FIFO method and the LIFO method. Please properly use "comma" in numbers (numeric values) as follows: 6,000, 1,234,567 etc. FIFO Ending Inventory CGS $ LIFO Ending Inventory CGS $
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Transcribed Image Text:P3. Inventory Cost Flow Methods
London Company who use a periodic inventory system sold 600 units of inventory in April. In addition, the following information is
available (2 pts.).
Please properly use "comma" in numbers as follows: 6,000 and 1,234,567
April 1 Inventory
250 units @ $10
$2,500
April 15 purchase
400 units @ $12
4,800
April 23 purchase
350 units @ $13
4,550
1,000 units
$ 11,850
Determine the ending inventory and cost of goods sold during the period using the FIFO method and the LIFO method. Please
properly use "comma" in numbers (numeric values) as follows: 6,000, 1,234,567 etc.
FIFO
Ending Inventory
CGS
$
LIFO
Ending Inventory
CGS
$
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