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London Co. uses a periodic inventory

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London Co. uses a periodic inventory 1 Toso Company uses the periodic inventory system to account for inventories. Information related to Toso Company’s inventory at October 31 is given below: October 1 Beginning inventory 400 units @ ₤10.00 = ₤ 4,000 8 Purchase 800 units @ ₤10.40 = 8,320 16 Purchase 600 units @ ₤10.80 = 6,480 24 Purchase 200 units @ ₤11.60 = 2,320 Total units and cost 2,000 units ₤21,120 Instructions 1. Show computations to value the ending inventory using the FIFO cost assumption if 450 units remain on hand at October 31. 2. Show computations to value the ending inventory using the weighted-average cost method if 450 units remain on hand at October 31. a3. Show computations to value the ending inventory using the LIFO cost assumption if 450 units remain on hand at October 31. 2 London Co. uses a periodic inventory system. Its records show the following for the month of May, in which 75 units were sold. Units Unit Cost Total Cost May 1 Inventory 35 $ 8 $ 280 15 Purchases 30 11 330 24 Purchases 40 12 480 Totals 105 $1,090 Instructions Compute the ending inventory at May 31 and cost of goods sold using the (1) FIFO and a(2) LIFO methods. Prove the amount allocated to cost of goods sold under each method. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

London Co. uses a periodic inventory

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