Robey Company
the Following Data Are Available for One of the Products

question 128

Essay

Robey Company
The following data are available for one of the products sold by Robey Company,which uses a perpetual inventory system.
$\begin{array}{lll}\text { February } & 1 & \text { On hand, } 10 \text { urits at } \$ 2 \text { each } \\&8 & \text { Sold, } 6 \text { units for } \$ 10 \text { each } \\&14 & \text { Purchased, } 30 \text { urits at } \$ 3 \text { each } \\&25 & \text { Sold, } 24 \text { units for } \$ 10 \text { each }\end{array}$
-Refer to the information provided for Robey Company.If the LIFO method is used,determine the following amounts:
A)Ending inventory on February 28th?
B)Cost of Goods sold for the month of February?

• A)Ending inventory on February 28th?
• B)Cost of Goods sold for the month of February?

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