Glasgow Enterprises started the period with 65 units in beginning inventory that cost $2.60 each. During the period, the company purchased inventory items as follows. Glasgow sold 325 units after purchase 3 for $10.90 each. Purchase No. of Items Cost 1 300 $ 3.10 2 200 $ 3.20 3 55 $ 3.60 Glasgow's ending inventory under LIFO would be:

Completion stock is the expense of those merchandise close by toward the finish of an announcing period. The total expense of this stock is utilized to infer the expense of products sold of a business that utilizes the intermittent stock framework. Under the occasional framework, the expense of products sold is inferred as follows:

Cost of products sold = Beginning stock + Purchases - Ending stock

Closure stock is involved three kinds of stock, which are:

Crude materials. This is the materials used to build finished merchandise, which have not yet been changed.

Work-in-process. This is crude materials that are being changed into completed merchandise.

Completed merchandise. This is completely finished merchandise, prepared available to be purchased. A variety where products are bought in definite structure from makers and afterward exchanged is called stock.

Consummation stock is recorded at its procurement cost. What's more, on the off chance that it is discovered that the market estimation of stock things has declined, they are to be recorded at the lower of their expense or market esteem. The danger of such a record increments if stock is held for an extensive stretch of time, or if advertise costs are unstable.

A pattern of consummation stock adjusts that are expanding after some time can show that some stock is getting outdated, since the sum ought to stay about equivalent to an extent of deals