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San Diego State University Operations And Supply Chain Management Assignment Help - Inventory

Question - Lawrence owns a small candy store that sells one type of candy. His beginning inventory of candy
was made up of 10,000 boxes costing $1.50 per box ($15,000), and he made the following purchases
of candy during the year: March 1 10,000 boxes at $1.60 $16,000 August 15 20,000 boxes at $1.60
32,000 November 20 10,000 boxes at $1.75 17,500 At the end of the year, Lawrence's inventory
consisted of 15,000 boxes of candy. A. Calculate Lawrence's ending inventory and cost of goods sold
using the FIFO inventory valuation method. Ending inventory Cost of goods sold B. Ending inventory
Cost of goods sold.

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