Try another version of this question The periodic inventory records of Spacely’s Sprockets indicate the following for the month of July: July 1 beginning merchandise inventory 15 units @ $50 each. July 8 purchase 16 units @ $58 each. July 15 purchase 11 units @ $61 each. July 26 purchase 10 units @ $62 each. On July 31, Spacely counts 6 units of merchandise on hand. Computing periodic inventory amounts - LIFO Ending merchandise inventory is... Cost of goods sold... Question 1
Date Units Cost = Total TOTAL Date Units Cost = Total TOTAL Date Units Cost = Total July 1 6 50 300 TOTAL 300 Date Units Cost = Total July 1 9 50 450 July 8 16 58 928 July 15 11 61 671 July 26 10 62 620 TOTAL 2669