Need my work checked please.

May 1

Beginning merchandise inventory

30

tires @

$52

each

11

Purchase

10

tires @

$64

each

23

Sale

20

tires @

$75

each

26

Purchase

20

tires @

$75

each

29

Sale

22

tires @

$75

each

equirement 2. Compute cost of goods sold and gross profit using the LIFO inventory costing method.

Begin by computing the cost of goods sold and cost of ending merchandise inventory using the LIFO inventory costing method. Enter the transactions in chronological? order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual? record, calculate the quantity and total cost of merchandise inventory?purchased, sold, and on hand at the end of the period. ?(Enter the oldest inventory layers? first.)

	Purchases			Cost of Goods Sold			Inventory on Hand
		Unit	Total		Unit	Total		Unit	Total
Date	Quantity	Cost	Cost	Quantity	Cost	Cost	Quantity	Cost	Cost
May 1							30	52	1560
11	10	64	640				30	52	1560
							10	64	640
23				10	64	640	40	52	2080
				20	52	1040
26	20	75	1500				40	52	2080
							20	75	1500
29				20	75	1500	18	75	1350
				2	75	150
Totals	30		2140	52		3330	18		1350