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Feb 05, 2015 · Goods available for sale -- \$890. Less 22 units @ \$12 = 264. Cost of goods sold = \$626 . PERIODIC LIFO. You sold 58 units so you must have 22 units left . You assume that what was sold are the latest units purchased. 25 units @ \$12 = \$300. 33 units @ \$11 = 363. Cost of goods sold = \$663. Ending inventory . 15 units @ \$10 = 150. 7 units @ \$11 = 77 Lifo/fifo using periodic system [ 1 Answers ] The company uses the periodic system, and there were 15 units in inventory at the end of the period. Can someone please determine the costs of 15 units in the inventory by each of the following methods, presenting details in your computations (a) first-in, first out and (b) last-in, first-out. Aug 09, 2020 · Units in ending inventory = Beginning + Purchased- Sold = 6 + 17 -14 = 9. Using FIFO. Ending inventory = [email protected] [email protected] = 8180. Cost of goods sold = 20610-8180 = 12430