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Evaluate the ending inventory at may 31

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Reference no: EM13524399

Catlet Co. uses a periodic inventory system. Its records show the following for the month of May in which 65 units were sold.


 Date Explanation Units UnitCost TotalCost

May 1 Inventory 30
$9.44 $283.20

May 15 Purchases 25
12.44 311.00

May 24 Purchases

35
13.44

470.40


Totals

90

$1,064.60

Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. 


 FIFO LIFO
Ending Inventory $ $
Cost of goods sold $ $

 

Reference no: EM13524399

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