Question: Date Purchase description Units Unit cost Total 9/1 Beginning inventory 100 60 6000 9/3 Purchase 60 78 4680 9/10 Purchase 200 82 16400 9/30 Purchase

Date	Purchase description	Units	Unit cost	Total
9/1	Beginning inventory	100	60	6000
9/3	Purchase	60	78	4680
9/10	Purchase	200	82	16400
9/30	Purchase	40	90	3600
Total		400		30,680

I. Donuld Company sells many products. Sol is one of its popular items. Below is an analysis of the inventory purchases and sales of Sol for the month of September.

Total units sold during the month is 240.

Required: a. Using the FIFO assumption, calculate the amount charged to cost of goods sold for September. (Show computations)

b. Using the LIFO assumption, calculate the amount assigned to the inventory on hand on September 30. (Show computations)

c. Calculate the LIFO reserve that would be reported in the company's books on September 30 if using LIFO.

d. Using the average cost assumption, calculate the amount assigned to the inventory on hand on September 30. (Show computations).

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