Basic Accounting: Lifo adjustment

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hi, i'm currently taking basic accounting and came upon this problem which i've been stuck on for days. can you guys point me to the right path? i understand the concept of FIFO and LIFO but i don't know what i'm doing wrong.

heres the question.


At the beginning of October, Bowser Co.’s inventory consists of 60 units with a cost per unit of $35. The following transactions occur during the month of October.

October 4
Purchase 140 units of inventory on account from Waluigi Co. for $55 per unit, terms 2/10, n/30.
October 5
Pay freight charges related to the October 4 purchase, $560.
October 9
Return 10 defective units from the October 4 purchase and receive credit.
October 12
Pay Waluigi Co. in full.
October 15
Sell 140 units of inventory to customers on account, $11,900. [Hint: The cost of units sold from the October 4 purchase includes $55 unit cost plus $5 per unit for freight less $1 per unit for the purchase discount, or $59 per unit.]
October 19
Receive full payment from customers related to the sale on October 15.
October 20
Purchase 120 units of inventory from Waluigi Co. for $60 per unit, terms 1/10, n/30.
October 22
Sell 100 units of inventory to customers for cash, $8,500.



Assuming for preparing financial statements that Bowser Co. reports inventory using LIFO, record the LIFO adjustment:

^^ this is what i have to do



according to the entry and using LIFO, this is wat i did

started with
60@ $35
140 @ $59 but returned 10 so 130@ $59

sold 140. end up with 50@ $35

bought 120@ $ 60
sold 100 more. end up with 50@ $35 + 20@ $60= 2950 <-- ending inventory

total cost= 2100+ 7670 + 7200= 16970

16970-2950= 14020 <--- cost of good sold

for some reason this is wrong so can someone tell me what i'm doing wrong?
 

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