Please show work and explain why!!! I'm super confused. On November 1, Lacy Company began business...

Please show work and explain why!!! I'm super confused.

On November 1, Lacy Company began business with the purchase of 250 units of inventory for $21,625. During the month, Lacy had the following inventory transactions:

Date
November 6	Purchased 100 units @ $75 per unit
11	Sold 200 units
17	Sold 85 units
24	Purchased 100 units @ $125 per unit
28	Purchased 50 units @ $110 per unit
30	Sold 100 units

Required:

Compute the cost of the inventory at the end of November under the following alternatives:

a.	FIFO periodic
b.	FIFO perpetual
c.	LIFO periodic
d.	LIFO perpetual

Expert Solution

ekkarill92 answered 2 years ago

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