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jaydeebee5
May 18, 2007, 06:34 AM
Im not sure how to figure out this problem:

Feb 3 Inventory 12 units @<hidden> $15
11 Purchase 13 units @<hidden> $17
14 Sale 18 units
21 Purchase 9 units @<hidden> $20
25 Sale 10 units

Assuming the business maintains a periodic inventory system, calculate the cost of merchandise sold and ending inventory under the following assumptions:
a) First-in, first-out
b) Last-in, first-out

I'm so frustrated help :confused: :confused: