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Norris Company Uses the Perpetual Inventory System and Had the Following

Question 213

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Norris Company uses the perpetual inventory system and had the following purchases and sales during March. Norris Company uses the perpetual inventory system and had the following purchases and sales during March. Instructions Using the inventory and sales data above, calculate the value assigned to cost of goods sold in March and to the ending inventory at March 31 using (a) FIFO and (b) LIFO. Instructions
Using the inventory and sales data above, calculate the value assigned to cost of goods sold in March and to the ending inventory at March 31 using (a) FIFO and (b) LIFO.

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