Inventory Costing Methods and the Perpetual Method Lambeth Company experienced the following events in February: Date Feb. 1 Feb. 4 Feb. 9 Feb. 27 Sold inventory Assume the perpetual inventory system is used. Use the LIFO inventory costing method to calculate the co Event Purchased inventory Sold inventory Purchased inventory Total cost of goods sold $ Ending inventory $ Units 100 @ 50 100 @ 100 0 0 Unit Cost Total Cost $70 $7,000 $72 $7,200

Inventory Costing Methods and the Perpetual Method Lambeth Company experienced the following events in February