Cost flow assumptions and effects of inventory errors

Calculating cost of goods sold and ending inventory using LIFO

Feb 22:     70*16 = $ 1120 June 11:     (130*16) + (20*15) = $ 2380 Nov 1:       (140*15) + (50*13) = $ 2750 Total Cost of goods sold: $6250 Ending Inventory = Cost of goods available for sale – Cost of goods sold =    6900 – 6250 Ending inventory =    $650
Let's make that grade!
Grademiners.com Coupons