Jones company records the following activity as it relates

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Jones Company records the following activity as it relates to their inventory activity for the month of January.

1/1 Beginning Inv 600 units @ $35/unit

1/10 Purchase 450 units @ $56/unit

1/13 Purchase 200 units @ $57/unit

1/15 Sales 430 @90/unit

1/21 Purchase 230 units @ $58/unit

1/30 Purchase 345 units @ $59/unit

1/31 Sales 335 @90/unit

Compute ending inventory using the FIFO method.

Compute cost of good sold using FIFO.

Compute ending inventory using LIFO

Compute cost of goods sold using the LIFO method.

Reference no: EM13567725

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