Question: Lifo and Periodic system! highlight answer please Shown below is the activity for one of the products of Random Creations January 1 balance, to unite

Lifo and Periodic system! highlight answer please

Shown below is the activity for one of the products of Random Creations January 1 balance, to unite 8 630 $4,000 Purchases January 10: 10 units 9 551 January 28 40 units 652 Salen JAMSTY 121 30 units January 221 30 units January 311 Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Random Cieations uses LIFO and a periodic inventory system Ending inventory Cost of goods sold 5.370 5 5 2.750

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