During 2018, a company sells 365 units of inventory for $89 each. The company has...
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During 2018, a company sells 365 units of inventory for $89 each. The company has the following inventory purchase transactions for 2018 Date Jan. 1 May 5 Nov. 3 Number of Units 61 167 183 Unit Cost $ 67 69 72 Transaction Total Cost Beginning inventory Purchase Purchase $ 4,087 11,523 13,176 411 $28,786 Calculate ending inventory and cost of goods sold for 2018 assuming the company uses LIFO with a periodic inventory system
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