In its first month of operations, Swifty Company made three purchases of merchandise in the...
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Accounting
In its first month of operations, Swifty Company made three purchases of merchandise in the following sequence: (1) 200 units at $5, (2) 280 units at $6, and (3) 395 units at $10. Assuming there are 235 units on hand, compute the cost of the ending inventory under (1) the FIFO method and (2) the LIFO method, Swifty uses a periodic inventory system. Cost of Ending liventory-FIFO $ Cost of Ending inventory-LIFO $
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