Question: Please answer both, these are practice problems to help me study. Bramble Corp. Just began business and made the following four inventory purchases in June

Bramble Corp. Just began business and made the following four inventory purchases in June June 156 units $936 June 10 208 units 1456 June 15 208 units 1664 June 28 156 units 1404 $5460 A physical count of merchandise Inventory on June 30 reveals that there are 200 units on hand. Using the LIFO inventory method, the value of the ending Inventory on June 30 is 0 $1872 $1300 $1820 $1248 Sunland Company has the following inventory data: July 1 Beginning Inventory 72 units at $19 $1368 Z Purchases 252 units at $20 5040 22 Purchases 36 units at $22 792 $7200 A physical count of merchandise inventory on July 30 reveals that there are 120 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is $2472 $4872 $4728 $2328
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