accounting

In its first month of operations, Danielle Company made three purchases of merchandise in the following sequence: (1) 161 units at $17, (2) 414 units at $18, and (3) 115 units at $19.

Assuming there are 271 units on hand, compute the cost of the ending inventory under the FIFO method and LIFO method. Danielle uses a periodic inventory system.

asked by milania
  1. n its first month of operations, Whispering Winds Corp. made three purchases of merchandise in the following sequence: (1) 320 units at $4, (2) 420 units at $6, and (3) 520 units at $7. Assuming there are 220 units on hand at the end of the period, compute the cost of the ending inventory under (a) the FIFO method and (b) the LIFO method. Whispering Winds Corp. uses a perio

    posted by jeremiah

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