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  3. a company reports the following beginning inventor

A company reports the following beginning inventory and two purchases for the month of January,...

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Accounting

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A company reports the following beginning inventory and two purchases for the month of January, On January 26, the company sells 480 units. Ending inventory at January 31 totals 280 units. Units Unit Cost Beginning inventory on January 300 $ 6.00 Purchase on January 9 260 Purchase on January 25 2.50 5.00 200 QS 5-5 Perpetual: Inventory costing with LIFO LO P1 Assume the perpetual inventory system is used. Determine the costs assigned to ending Inventory when costs are assigned based on LIFO Perpetual LIFO: Goods purchased Inventory Balance Cost per Cost of Goods Sold Cost per Cost of Goods unit Sold * of units Date Cost per # of units sold unit # of units unit Inventory Balance January 1 January January 25 January 20

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