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FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year:Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 80 units at $84 10 Sale 5

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Answer #1

1) Total Units available for sale = 76 Units

Sale unit = 43 Units

Ending inventory units = 76-43 = 33 Units

Ending inventory under FIFO = (17*52+16*50) = 1684

Ending inventory under LIFO = (22*47+11*50) = 1584

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