Samson Company Had The Following Balances

Samson Company had the following balances and transactions during 2008. January 1 Beginning inventory: 20 units at $70 eachMarch 10 Purchased 10 units at $80 eachJune 10 Sold 23 units for $100 each1) What would Samson Companys inventory amount be on December 31, 2008 if the LIFO method was used?2) What would Samson Companys inventory amount be on December 31, 2008 if the FIFO method was used?

Originally posted 2018-07-07 18:53:17. Republished by Blog Post Promoter