Question

Using a FIFO then LIFO perpetual cost flow, calculate (a) the value of the ending inventory...

  1. Using a FIFO then LIFO perpetual cost flow, calculate (a) the value of the ending inventory and (b) the cost of merchandise sold for the month of November of Beamer Company using the data below. (USE provided worksheet)

Nov. 1

Purchased

240 units

$78 each

4

Sold

180 units

11

Purchased

280 units

$80 each

12

Sold

220 units

22

Sold

90 units

23

Purchased

320 units                  $86 each

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