Question: Date and Transaction Units and Value Additional notes Beginning Inventory 30 units @ $10.50 10/4 Purchase 70 units @ $9.00 Discount 2%, 5 units returns,

Date and Transaction

Units and Value

Additional notes

Beginning Inventory

30 units @ $10.50

10/4 Purchase

70 units @ $9.00

Discount 2%, 5 units returns, $0.05 freight

10/6 Purchase

40 units @ $9.50

Discount 2%, $0.05 freight

10/10 Sale

100 units @ $11

10/15 Purchase

60 units @ $10.00

Discount 2%, 10 returns, $0.05 freight

10/20 Purchase

50 units @ $11.00

5 returns, $0.05 freight

10/25 Sale

100 units @ $12

Record COGS and calculate ending inventory using a periodic LIFO cost assumption.

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