Using LIFO inventory costing calculate ending inventory and cost of goods sold given the following inventory transactions. purchase number of units unit cost total cost Beginning inventory 100 $ 7 $ 700 purchase 1 100 9 900 Purchase 2 200 9 1,800 Purchase 3 600 11 6,600 cost of goods available 1000 10,000 ending inventory 200 cost of goods sold 800 cost of ending inventory. ________________________ cost of goods sold. _____________________
- Using LIFO inventory costing calculate ending inventory and cost of goods sold given the following inventory transactions.
purchase number of units unit cost total cost
Beginning inventory 100 $ 7 $ 700
purchase 1 100 9 900
Purchase 2 200 9 1,800
Purchase 3 600 11 6,600
cost of goods available 1000 10,000
ending inventory 200
cost of goods sold 800
cost of ending inventory. ________________________ cost of goods sold. _____________________
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