Sandhill’s Staff has the following inventory information. July 1   Beginning Inventory   22 units at $92 5   Purchases   125units at $92 14   Sale   80 units 21   Purchases   55 units at $91 30   Sale   50 units Assuming that a perpetual inventory system is used, what is the ending inventory on a FIFO basis?

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(Appendix 6B) Inventory Costing Methods: Periodic LIFO Bordeaux Company has the following information related to purchases and sales of one of its inventory items: Date Description Units Purchased at Cost Units Sold at Retail June 1 Beginning Inventory 150 units @ $11 = $1,650 9 Purchase 1 200 units @ $12 = $2,400 14 Sale 1 300 units @ $25 22 Purchase 2 250 units @ $14 = $3,500 225 units @ $25 29 Sale 2 Assume that Bordeaux uses a periodic inventory system. Required: Calculate the cost of goods sold and the cost of ending inventory using the LIFO inventory costing method. Cost of goods sold Cost of ending inventory tA 4100 X 4,400 X

Coronado has the following inventory information. July 1 Beginning Inventory 20 units at $20 $400 7 Purchases 50 units at $19 950 22 Purchases 10 units at $20 200 $1550 A physical count of merchandise inventory on July 31 reveals that there are 30 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is $1020. $970. $977. $996.