# Problem 2 (25 points) Cheryl Corporation uses a periodic inventor method to determine the cost flow...

###### Question: problem 2 (25 points) Cheryl Corporation uses a periodic inventor method to determine the cost flow of good calculate Cheryl's ending inventory value and cost odic inventory system and has adopted the LIFO cost flow of goods. Using following information. value and cost of goods sold: Opening inventory at 1/1/20XX ou units @ $12.00 per unit Inventory purchased on 4/1/20XX 100 units @$13.00 per unit Inventory purchased on 7/1/20XX 100 units @ $14.00 per unit Inventory purchased on 9/30/20XX 100 units @$15.00 per unit At 12/31/20xx Cheryl's personnel take a physical inventory and there are 400 units on hand.

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