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Maintain inventory records Fire fox manufacturing has the following information in relation to commodity for July...

Maintain inventory records Fire fox manufacturing has the following information in relation to commodity for July inventory ................July1...................20 units at birr 50

Sales

July 7.........10 units

July 18.......... 10 units

July 27...........10 units

Purchase

july 3..............20 units at birr 51

July 20 ................. 15 units at birr 52

Required Task 1: the company used perpetual inventory system and LIFO costing determine cost of goods sold and ending inventory

Task 2: if the company used periodic inventory system and FIFO costing method , determine costs of goods sold and ending inventory.

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please find above attachment for solution. Thank you

ekkarill92 answered 2 years ago
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