Refer to the information in SE6-9 and assume the perpetual inventory system is used. Use the LIFO inventory costing method to calculate the company's cost of goods sold and ending inventory as of February 28.

Exercise SE6-9

Inventory Costing Methods and the Periodic Method Deer Company experienced the following events in February:

If the Deer Company uses the LIFO inventory costing method, calculate the company's cost of goods sold and ending inventory as of February 28 assuming the periodic method.

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Date Feb. 1 Feb. 4 Feb. 9 Feb. 27 Purchased inventory.. Sold inventory..... Purchased inventory. Sold inventory... Event Units Unit Cost Total Cost 100 $18 $1,800 50 100 @ $21 $2.100 100