Question: Please show work and explain why!!! I'm super confused. On November 1, Lacy Company began business with the purchase of 250 units of inventory for

Please show work and explain why!!! I'm super confused.

On November 1, Lacy Company began business with the purchase of 250 units of inventory for $21,625. During the month, Lacy had the following inventory transactions:

Date

November 6

Purchased 100 units @ $75 per unit

11

Sold 200 units

17

Sold 85 units

24

Purchased 100 units @ $125 per unit

28

Purchased 50 units @ $110 per unit

30

Sold 100 units

Required: Compute the cost of the inventory at the end of November under the following alternatives:

a.

FIFO periodic

b.

FIFO perpetual

c.

LIFO periodic

d.

LIFO perpetual

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