Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby

Exercise 12

(Supplement 7A) Calculating Cost of Goods Sold and Ending Inventory under FIFO and LIFO (Perpetual Inventory)
Refer to M7-7. Calculate the cost of ending inventory and cost of goods sold assuming a perpetual inventory system is used in combination with ( a ) FIFO and ( b ) LIFO.