Using a LIFO perpetual cost flow,calculate the value of the ending inventory and the cost of goods sold for the month of November of Beamer Company using the data below.

Nov.1 Purchased 600 units $80 each
4 Sold 200 units
11 Purchased 350 units $82 each
12 Sold 275 units
22 Purchased 175 units $84 each
23 Sold 155 units

Calculate the following:
(a)Inventory valuation at the end of November
(b)Calculate the cost of goods sold for November

Question

Using a LIFO perpetual cost flow,calculate the value of the ending inventory and the cost of goods sold for the month of November of Beamer Company using the data below.
​
Nov.1 Purchased 600 units $80 each
4 Sold 200 units
11 Purchased 350 units $82 each
12 Sold 275 units
22 Purchased 175 units $84 each
23 Sold 155 units
​
Calculate the following:
(a)Inventory valuation at the end of November
(b)Calculate the cost of goods sold for November

Quizplus · Accepted Answer

The Answer of Using a LIFO perpetual cost flow,calculate the value of the ending inventory and the cost of goods sold for the month of November of Beamer Company using the data below.
​
Nov.1 Purchased 600 units $80 each
4 Sold 200 units
11 Purchased 350 units $82 each
12 Sold 275 units
22 Purchased 175 units $84 each
23 Sold 155 units
​
Calculate the following:
(a)Inventory valuation at the end of November
(b)Calculate the cost of goods sold for November

Using a LIFO Perpetual Cost Flow,calculate the Value of the Ending