Date Explanation Units Unit Cost Total Cost
May 1 Inventory 30 $ 8 $240
May 15 Purchases 25 11 275
May 24 Purchases
Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods.
Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.
Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!