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Lumley Company uses the perpetual inventory system

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Lumley Company uses the perpetual inventory system 1 Zimmer Company uses the perpetual inventory system and the LIFO method. The following information is available for the month of May: May 1 Beginning inventory 20 units @ ₤5 10 Purchase 20 units @ ₤8 15 Sales 15 units 18 Purchase 10 units @ ₤9 21 Sales 15 units 30 Purchase 10 units @ ₤10 Instructions Prepare a schedule to show cost of goods sold and the value of the ending inventory for the month of May. 2 Lumley Company uses the perpetual inventory system and had the following purchases and sales during March. Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory 100 $40 3/3 Purchase 60 $50 3/4 Sales 70 $80 3/10 Purchase 200 $55 3/16 Sales 80 $90 3/19 Purchase 40 $60 3/25 Sales 120 $90 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. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

Lumley Company uses the perpetual inventory system

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