I have to calculate the cost of ending inventory and COGS (cost of goods sold). Every time I try I come up with something different, anyone like to help me?

Beginning Inventory Jan. 1 64 units @ $11 TC $ 704
Purchase Jan. 15 249 units @ $12 TC $ 2988
Purchase Jan. 24 103 units @ $13 TC $ 1339

Using Both Fifo and Lifo

You need some kind of sales info for this question otherwise LIFO and FIFO are the same.

Im sorry codyman, Using the perpetual inventory system I sold 127 units between Jan. 16 and 23

Socki

Please give it a try and walk me through what you are doing and how you come up with it. Then I will see what you are doing wrong and help. Thanks C

In FIFO you sold 64 units of your Jan 1 Inventoy and 63 units of your Jan 15 inventory.
Take the these numbers X your unit costs to get COGS.

In LIFO you sold 127 unit of your 15 Jan inventory. Take these units X the unit price to get COGS.

COGS will be different between the 2 methods because of the different unit costs used.