Hello,
I am trying to calculate the units sold under LIFO method
Here is the list:
The problem says 2550 units remained in inventory
My guess is 5730 units sold for $1,000,763
Am I correct?
Thank you for the help
I am trying to calculate the units sold under LIFO method
Here is the list:
- Ending inventory December 31 Year 5: 1180 @ 172.50
- January purchases: 800 units @ $174
- February purchases: 1050 @ 174
- April purchases: 1250 @ 175.80
- July purchases: 1200 @ 176.25
- August purchases: 176.25
- September purchases: 800 @ 177.50
- October: 650 @ 179
- December: 250 units @ 180
The problem says 2550 units remained in inventory
My guess is 5730 units sold for $1,000,763
Am I correct?
Thank you for the help