Question: table [ [ Purchases , , Sales ] , [ July , ( balance ) , 6 1 0 @ , $ 7 .
tablePurchasesSalesJulybalance@$July,@@$@$@$@$@$
Assuming that periodic inventory records are kept.
Determine the ending inventory and cost of goods sold using FIFO method. Round answers to decimal places, eg
Ending inventory $
Cost of goods sold $
Determine the ending inventory and cost of goods sold using LIFO method. Round answers to decimal places, eg
Ending inventory
$
Cost of goods sold
$
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