(Answered) Assignment - applying fifo and lifo process on excel and

Accounting

Assignment - Applying FIFO and LIFO. Process on excel and show all calculations and formulas used. Cite all references and resources.Send paypal link.

Instructions: A company has made the following purchases of merchandise during the Month of July: July 1 purchased 380 units at $15 dollars each July 5 purchased 270 units at $20 dollars each July 9 sold 500 units at $55 dollars each July 14 purchased 300 units at $24 dollars each July 20 sold 250 units at $55 dollars each July 30 purchased 250 units at $30 each Using the purchase information found above, answer the two questions below.

As you complete each question, be sure to show the numbers/information you used to reach your final answer.

There was no beginning inventory.

If the company uses the first-in, first-out method and the perpetual system, what would be the cost of the ending inventory?

There was no beginning inventory. If the company uses the last-in, first-out method and the perpetual system, what would be the cost of the ending inventory?

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