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In the first month of operations, Mordica Company made three purchases of merchandise in...

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Accounting

In the first month of operations, Mordica Company made three purchases of merchandise in the following sequence: (1) 200 units at $6, (2) 300 units at $7, and (3) 400 units at $9. Assuming there are 300 units on hand. Compute the cost of the ending inventory under the FIFO method and the LIFO method. Mordica uses a periodic inventory system. FIFO LIFO $ GA Cost of ending inventory 4,300 1,900
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In the first month of operations, Mordica Company made three purchases of merchandise in the following sequence: (1) 200 units at $6,(2)300 units at $7, and (3) 400 units at $9. Assuming there are 300 units on hand. Compute the cost of the ending imventory under the FIFO method and the LIFO method. Mordica uses a periodic inventory system

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