Kieso, Intermediate Accounting, 17e Help System Announcements Exercise 8-14 The following is a record of Blossom Company's transactions for Boston Teapots for the month of May 2020. May 1 Balance 492 units @ $21.00 May 10 Sale 369 units $39.00 12 Purchase 738 units $26.00 20 Sale 664 units $39.00 28 Purchase 492 units $30.00 Assuming that perpetual inventories are not maintained and that a physical count at the end of the month shows 689 units on hand, what is the cost of the ending Inventory using (1) FIFO and (2) LIFO? (1) FIFO LIFO Ending Inventory SHOW ANSWER Assuming that perpetual records are maintained and they tle into the general ledger, calculate the ending inventory using (1) FIFO and (2) LIFO. (1) FIFO FITO Ending Inventory s Click If you would like to show Work for this questioni Open Show Work SHOW ANSWE Question Attempts: O of 1 used SAVE FOR LATER SUBMIT ANSWER Kieso, Intermediate Accounting, 17e Help System Announcements Exercise 8-14 The following is a record of Blossom Company's transactions for Boston Teapots for the month of May 2020. May 1 Balance 492 units @ $21.00 May 10 Sale 369 units $39.00 12 Purchase 738 units $26.00 20 Sale 664 units $39.00 28 Purchase 492 units $30.00 Assuming that perpetual inventories are not maintained and that a physical count at the end of the month shows 689 units on hand, what is the cost of the ending Inventory using (1) FIFO and (2) LIFO? (1) FIFO LIFO Ending Inventory SHOW ANSWER Assuming that perpetual records are maintained and they tle into the general ledger, calculate the ending inventory using (1) FIFO and (2) LIFO. (1) FIFO FITO Ending Inventory s Click If you would like to show Work for this questioni Open Show Work SHOW ANSWE Question Attempts: O of 1 used