The periodic inventory records of Zucker Sales indicate the following for the month of April:

Apr

1 Beginning merchandise inventory 15 units @ $32 each
7 Purchase 7 units @ $34 each
18 Purchase 12 units @ $37 each
26 Purchase 10 units @ $40 each

As of April 30, Zucker Sales counts 8 units of merchandise inventory on hand.
Compute ending merchandise inventory and cost of goods sold for Zucker using the LIFO inventory method.
What will be an ideal response

Ending inventory: 8 units @ $32 = $ 256

Cost of goods available for sale:

Date
Quantity Unit
Cost Total
Cost
Apr. 1 15 units $ 32 $ 480
7 7 units $ 34 $ 238
18 12 units $ 37 $ 444
26 10 units $ 40 $ 400
Totals 44 units $ 1,562

Cost of Goods Available for Sale $ 1,562
Less: Ending Merchandise Inventor 256
Cost of Goods Sold $ 1,306