Answer:
The value of ending inventory will be items of latest purchase.
Step-by-step explanation:
Given that,
Lisa Company uses the periodic inventory system to account for inventories.
Information related to Lisa Company's inventory at October 31 is given,
Suppose, find the value of ending inventory using the FIFO cost assumption if 500 units remains on hand at october 31
We need to calculate the value of ending inventory
Using FIFO method



Hence, The value of ending inventory will be items of latest purchase.
1. 360*0.40=144
so they said 40% reggie collected main mor than 40% collected so you need to do add like 360+144=504
the answer 504
2. you need to do new to old
the new is 15 old is 799
799-15=784x100
the high number is 799
so you need to do 799 divided by 100=7.99
now 784 divided by 7.99=98.12
the answer is 98.12
Yes... indeed it is 1/8 because
125/1000 In simplest form is 1/8