Question: Date Transaction Description Jan. 1 Beginning inventory100 units@ $20.00 = $2,000 Feb. 14 Purchased 200 units@ $21.50 = 4,300 Apr. 5 Sold 220 units@ $

Date Transaction Description Jan. 1 Beginning inventory100 units@ $20.00 = $2,000 Feb. 14 Purchased 200 units@ $21.50 = 4,300 Apr. 5 Sold 220 units@ $ 30.00 = 6,600 June 21 Purchased Aug. 18 Sold Sept. 2 Purchased 160 units@ $22.50 = 3,600 100 units@ $30.00 = 3,000 280 units@ $ 23.50 = 6,580 Nov. 10 Sold 330 units @ $30.00 = 9,900 1 Find the Cost of Goods Sold under LIFO & FIFO Method 2 Find the Gross Income Using LIFO & FIFO Method

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