158. The units of an item available for sale during the year were as follows:
Jan. 1Inventory15 units at $25
Apr. 4Purchase10 units at $24
May. 20Purchase20 units at $28
Oct. 30Purchase18 units at $30
There are 19 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost using LIFO.
159. The beginning inventory and purchases of an item for the period were as follows:
10 units @ $85$ 850
5 units @ $80400
6 units @ $70$ 420
9 units @ $75675
15 units @ $78.64 =$1,179.55
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