Question: LO2 SE7-8. Inventory Costing Methods and the Periodic Method Lambeth Company experienced the fol- lowing events in January: Home Wort ( Date Event Units Unit

LO2 SE7-8. Inventory Costing Methods and the Periodic Method Lambeth Company

LO2 SE7-8. Inventory Costing Methods and the Periodic Method Lambeth Company experienced the fol- lowing events in January: Home Wort ( Date Event Units Unit Cost Jan. 10 Jan. 20 Jan. 30 @ Purchased inventory. Purchased inventory. Sold inventory.... 100 200 150 Total Cost $1,200 2,800 $12 14 If the Lambeth Company uses the FIFO inventory costing method, calculate the company's cost of goods sold and its ending inventory as of January 31 assuming the periodic method

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