HuCo begins operations in 20X4, uses the periodic method and makes the following merchandise purchases: Total...

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HuCo begins operations in 20X4, uses the periodic method and makes the following merchandise purchases: Total units 900 1,300 20X4 April September 20X5 March November 1,100 500 Unit cost $6 7 $8 10 Total cost $5,400 9,100 $8,800 5,000 35. If HuCo uses FIFO costing and its December 31, 20X5 ending inventory is 800 units, then ending inventory on its balance sheet will be 36. If HuCo uses LIFO costing and sold 2,000 units in 20X4, what is its cost of goods sold? 37. If Huco uses LIFO costing and sold 1,700 units each year, what is its 20X5 cost of goods sold? HuCo begins operations in 20X4, uses the periodic method and makes the following merchandise purchases: Total units 900 1,300 20X4 April September 20X5 March November 1,100 500 Unit cost $6 7 $8 10 Total cost $5,400 9,100 $8,800 5,000 35. If HuCo uses FIFO costing and its December 31, 20X5 ending inventory is 800 units, then ending inventory on its balance sheet will be 36. If HuCo uses LIFO costing and sold 2,000 units in 20X4, what is its cost of goods sold? 37. If Huco uses LIFO costing and sold 1,700 units each year, what is its 20X5 cost of goods sold?

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35 Calculate ending inventory using the FIFO First In First Out method The ending ... View the full answer