Question: Lan Enterprises uses a periodic inventory system for buckets it sells. It had a beginning inventory on April 1 of 80 units at a cost

Lan Enterprises uses a periodic inventory system for buckets it sells. It had a beginning inventory on April 1 of 80 units at a cost of $6 per unit. During April, the following purchases and sales were made. Purchases Sales April 7 60 units at $7.00 April 5 120 units at $20 13 120 units at $7.50 11 90 units at $20 23 90 units at $8.00 20 80 using LIFO and FIFO

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