QS 5-5 Perpetuel: Inventory costing with LIFO LO P1 A company reports the following beginning...
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QS 5-5 Perpetuel: Inventory costing with LIFO LO P1 A company reports the following beginning Inventory and two purchases for the month of January. On January 26, the company sells 360 units. Ending Inventory at January 31 totals 130 units Unit Cost Units Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 320 $3.10 3.30 3.40 70 100 Required: Assume the perpetual Inventory system is used. Determine the costs assigned to ending Inventory when costs are assigned based on LIFO sed Cost of Goods Sold #of Cost per units unit Goods Date | #of January 1 January 9 Cost per Cost of ! #Of units | Cost per Inventory Balance units unit unit January 25 January 26 Totals
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