LIFO METHOD Company Sold 420. Units [1] Calculate the total units and total cost of...
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Accounting
LIFO METHOD
Company Sold 420. Units
[1] Calculate the total units and total cost of goods available for sale
| Date | Units | Unit Cost | Total |
| Beginning | 200 | $ 2.60 | |
| 5/2 | 100 | 3.00 | |
| 6/10 | 50 | 3.50 | |
| 7/8 | 80 | 4.00 | |
| 8/15 | 90 | 4.20 | |
| Total Cost of Goods Available for sale |
[2] Calculate the Ending Inventory
| Date | Units | Unit Cost | Total |
[3] Calculate Cost of Goods Sold
Cost of goods available for sale minus ending inventory
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