Question: is this right if not what did i do wrong A company reports the following beginning inventory and two purchases for the month of January.
A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 380 units Ending inventory at January 31 totals 150 units Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 340 80 110 Unit Cost $ 3.30 3.50 3.60 Required: Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method Periodic LEO Costol Goods Sold Cost of Goods Available for Sale # of Cost per Cost of Goods Available for units unit Sale 340s 3.30 $ 1 122 of units sold Cost per Cost per unit Inventory Balance of units in ending Ending unit Inventory Inventory 340 5 330 S 1,122 Cost of Goods Sold $ 1.254 3801 $ 3.30 3.50 Beg. Inventory Purchases January 9 January 25 Total 3.50 3.60 80 110 530 280 396 1.798 110 80 570 350 3.60 360 385 288 1.927 80 110 530 280 396 1.755 $ $ $
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