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Inventory information for Part 311 of Buffalo Corp. discloses the following information for the month of...

Inventory information for Part 311 of Buffalo Corp. discloses the following information for the month of June.
June 1 Balance 301 units @ $15 June 10 Sold 203 units @ $37
11 Purchased 797 units @ $18 15 Sold 497 units @ $38
20 Purchased 497 units @ $20 27 Sold 298 units @ $41

(a)

Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO.

(1)
LIFO

(2)
FIFO
Cost of Goods Sold $ $
Ending Inventory $ $
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ekkarill92 answered 1 year ago
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