Question

Help to answer these questions for my Intro to Accounting class

1 The inventory data for an item for November are: Nov. I Inventory 20 units at $19 4 Sold 10 units 10 Purchased 30 units at $20 17 Sold 20 units 30 Purchased 10 units at $21 Using a perpetual system, what is the cost of the merchandise sold for November if the company we FIFO? a $610 b. $600 C. $590 d. $580 The following lots of a particular commodity were available for sale during the year: Beginning overtas 10 units at $30 First purchase 25 units at 32 Second purchase 30 units at $34 Third purchase 10 units $35 at 2 The firm uses the periodic system and there are 20 units of the commodity on hand at the end of the is the amount of inventory at the end of the year according to the LIFO method?

Answer 1

Note: AS PER HOMEWORKLIB POLICY ONE SHOULD ONLY FOUR ANSWERS.FOR REMAINING ANSWERS PLEASE UPLOAD REST.THANKS
@ cast of mechandere Date Opening Inventory Unito Rate Amount" Novi 20 19 380 dold for november Purchases Sales Unito Rate Amount chits Rate Amount closing Inverden Chit Rate Amt 20 19 380 10 19 190 Nov4 lo 19 190 10 19 190 30 20 600 i Novio 30 20 600 Nov17 10 19 190 to 20 200 580 @ Total sales. 1 LIFO Method (last in first out) 20 cenite TO X 30 10+32 300 = 320 5x61 of 15x63 + (0x74 Hox7 3 cost of & 5461+1 goods sold (rounds) 40 2760-69 40 @ .. 20469 - 1380 10x7240 + 10x77 COGs for FIFO = 120 units © = 1510