Try another version of this question The periodic inventory records of Spacely’s Sprockets indicate the following for the month of September: Spacely’s Sprockets uses a different inventory method of each product as indicated: Computing periodic inventory amounts - LIFO Enter your inventory using oldest purchases first. Ending merchandise inventory is... Cost of goods sold... Question 1
Product Beg. Inventory Purchases Units in Ending Inv. Periodic Inventory Units Cost Units Cost Units Cost X1 6 $8 8 $12 4 $13 7 FIFO Y2 1 $16 4 $18 8 $20 2 LIFO Z3 8 $18 6 $20 6 $21 4 Weighted Avg. Product Units Cost = Total Y2 TOTAL Product Units Cost = Total Y2 TOTAL Product Units Cost = Total Y2 1 16 16 1 18 18 TOTAL 34 Product Units Cost = Total Y2 3 18 54 8 20 160 TOTAL 214