Determine Ending Inventory Cost by (A) FIFO Method, (B) LIFO

question 73

Essay

$\begin{array}{lll}65 \text { units at } \$ 6 \text { each } & \text { Purchase } & \text { September } 5 \\55 \text { units at } \$ 8 \text { each } & \text { Purchase } & \text { September } 13 \\44 \text { units at } \$ 10 \text { each } & \text { Purchase } & \text { September } 29 \\70 \text { units } & \text { Ending Inventory } & \text { September } 30\end{array}$ Determine ending inventory cost by (a) FIFO method, (b) LIFO method, and (c) average cost method.

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An environmental condition that elicits a response.

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Behavioral reactions that are genetically programmed, requiring no prior experience or learning to occur.

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Particular environmental or internal triggers that elicit responses from organisms or psychological systems.