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Neo, Tutor
Category: Homework
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Experience:  BS Accounting
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LoBianco companys record of transactions for the month april

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LoBianco company's record of transactions for the month april was as following :
purchase sales
april 1 600@ 6.00 april 3 500 @10.00
4 [email protected] 9 1300 @10.00
8 800@ 6.40 11 600 @11.00
13 1200 @6.50 23 1200@ 11.00
21 700@ 6.60 27 [email protected]
29 500@ 6.79 4500
instruction :
b) assuming that perpetual inventory records are kept in both units and dollars determine the inventory at April 30 using FIFO AND LIFO
C)compute cost of goods sold assuming periodic inventory procedures and inveotry priced at FIFO
d) in an inflationary period which inventory method FIFO , LIFO average cost –will show the highest net income?
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Customer: replied 4 years ago.

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Customer: replied 4 years ago.
can you tell me how do you know the ending inventory is 800? thanks

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