From the following, calculate the cost of ending inventory and cost of goods sold for the LIFO method, ending inventory is 51 units. (Round your answers to the nearest cent.) Beginning inventory and purchases January 1 April 10 May 15 July 22 August 19 September 30 November 10 December 15 Units 6 o a 9 13. 14 11 TWTHE naamin 19 19 33 15 Unit cost $ 1.30 1.80 2.30 2.55 3.30 3.50 3.70 4.10

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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From the following, calculate the cost of ending inventory and cost of goods sold for the LIFO method, ending inventory is 51 units.
(Round your answers to the nearest cent.)
Beginning inventory
and purchases
January 1
April 10.
May 15
July 22
August 19
September 30
November 10
December 15
Cost of ending inventory
Cost of goods sold
Units
6
DOM aamu
ME
9
13
14
19
19
33
15
Unit cost
$ 1.30
1.80
2.30
2.55
3.30
3.50
3.70
4.10
Transcribed Image Text:From the following, calculate the cost of ending inventory and cost of goods sold for the LIFO method, ending inventory is 51 units. (Round your answers to the nearest cent.) Beginning inventory and purchases January 1 April 10. May 15 July 22 August 19 September 30 November 10 December 15 Cost of ending inventory Cost of goods sold Units 6 DOM aamu ME 9 13 14 19 19 33 15 Unit cost $ 1.30 1.80 2.30 2.55 3.30 3.50 3.70 4.10
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