you may please provide correct answer i need its too fast so pls pls pls provide The following is a record of Ensberg Company's transactions for Colt Products for themonth of May 2017.May 1 Balance1228600 units@ $10.00 May 10 SalePurchase 900 units@ $12.00 20Purchase600 units@ $15.00450 units @ $19Sale810 units @ $19(a) Assuming that perpetual inventories are not maintained and that a physical countat the end of the month shows 840 units on hand, what is the cost of the endinginventory using (1) FIFO and (2) LIFO?(b) Assuming that perpetual records are maintained and they tie into the generalledger, calculate the ending inventory using (1) FIFO and (2) LIFO.

Step 1: Introduction to Perpetual Inventory:A company that is using the perpetual inventory…

Answered: The following is a record of Ensberg…

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

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