socki420
Nov 10, 2008, 04:05 PM
I need help calculating the cost of goods and ending inventory using the LIFO method.
Beg. Inventory Jan. 1 1840 units @$2.3
Purchase Jan. 30 2590 units @ $3
Sale March 14 1480 units @ $6.9
Purchase May 1 1120 units @ $4.4
Sale Aug. 31 1990 units @ $6.9
I can't wrap my brain around this for some reason and have become extremely frustrated. Please help me...
Beg. Inventory Jan. 1 1840 units @$2.3
Purchase Jan. 30 2590 units @ $3
Sale March 14 1480 units @ $6.9
Purchase May 1 1120 units @ $4.4
Sale Aug. 31 1990 units @ $6.9
I can't wrap my brain around this for some reason and have become extremely frustrated. Please help me...