heast Missouri State University Operations And Supply Chain Management Assignment Help - periodic inventory system

Question - Catlet Co. uses a periodic inventory system. Its records show the following for the month of May in
which 65 units were sold.
Date Explanation Units UnitCost TotalCost
May 1 Inventory 30 $9.44 $283.20
May 15 Purchases 25 12.44 311.00
May 24 Purchases 35 13.44 470.40
Totals 90 $1,064.60
Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO
methods. (Round answers to 2 decimal places, e.g. 10.50.)
FIFO LIFO
Ending Inventory $ $
Cost of goods sold $ $

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