Using a LIFO Perpetual Cost Flow, Calculate the Value of the Ending

question 106

Essay

Using a LIFO perpetual cost flow, calculate the value of the ending inventory and the cost of merchandise sold for the month of November of Beamer Company using the data below.?? $\begin{array} { r r l l l } \text { Nov. } & 1 & \text { Purchase } & 600 \text { units } & \$ 80 \text { each } \\&4 & \text { Sale } & 200 \text { units } & \\&11 & \text { Purchase } & 350 \text { units } & \$ 82 \text { each } \\&12 & \text { Sale } & 275 \text { units } & \\&22 & \text { Purchase } & 175 \text { units } & \$ 84 \text { each } \\&23 & \text { Sale } & 155 \text { units } &\end{array}$ Calculate the following:
(a) Inventory valuation at the end of November
(b) Cost of merchandise sold for November

---

Definitions:

ControlNet

An open, high-speed, deterministic network that transfers on the same network time-critical I/O updates, controller-to-controller interlocking data, and non-time-critical data such as data monitoring and program uploads and downloads.

High Speed

Refers to operations or processes that occur at a fast rate, typically within systems or machines that require rapid response times.

Deterministic

A characteristic of systems or processes that behave in a predictable manner, where the same input always results in the same output.

Repeatable

Capable of being done or occurring in the same manner multiple times, ensuring consistency and reliability in processes.