Question: Conaton Company reported the following inventory data for the year: Sales occurred as follows: Compute (1) Cost of goods sold and (2) Ending inventory making

Conaton Company reported the following inventory data for the year:

Sales occurred as follows:

Compute
(1) Cost of goods sold and
(2) Ending inventory making a LIFO cost flow assumption. The company uses a perpetual inventorysystem.

Units 300 900 1,200 Cost per Unit $17.50 18.00 Beginning inventory Purchases July 15 October 11.. 18.25 Units remaining at year-end 300 Units Sold January 16.. July 23 November 1. Total 200 600 1,300

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