This paper circulates around the core theme of The Rock Shop shows the following data related to an item of inventory: Inventory, January 1 100 units @ $5.00 Purchase, January 9 300 units @ $5.40 Purchase, January 19 70 units @ $6.00 Inventory, January 31 100 units Instructions: (a) What value should together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 99. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.
The Rock Shop shows the following data related to an item of inventory:
Inventory, January 1 100 units @ $5.00
Purchase, January 9 300 units @ $5.40
Purchase, January 19 70 units @ $6.00
Inventory, January 31 100 units
Instructions:
(a) What value should be assigned to the ending inventory using FIFO?
(b) What value should be assigned to cost of goods sold using LIFO?