Bartov Corporation reports the following beginning inventory and inventory purchases.

Bartov sells 600 of its inventory units. Compute the cost of goods sold for 2009 and the ending inventory on the 2009 balance sheet under the following inventory costing methods:
```

a. FIFO \begin{tabular}{|c|c|c|c|c|c|c|}
\hline \multirow[b]{2}{*}{\(\$\) millions } & \multicolumn{3}{|c|}{ Abercrombie \& Fitch } & \multicolumn{3}{|c|}{ TJX Companies } \\
\hline & Sales & \begin{tabular}{l}
Cost of \\
Goods Sold \end{tabular} & Inventories & Sales & \begin{tabular}{l}
Cost of \\
Goods Sold \end{tabular} & Inventories \\
\hline 2007 & \(\$ 3,318\) & \(\$ 1,109\) & \(\$ 427\) & \(\$ 17,405\) & \(\$ 13,214\) & \(\$ 2,582\) \\
\hline 2008. & 3,750 & 1,238 & 333 & 18,647 & 14,082 & 2,737 \\
\hline \end{tabular}

b. LIFO

c. Average Cost ```

Transcribed Image Text:

Beginning inventory, 2009. Inventory purchased in 2009 400 units $10 each $ 4,000 700 units $12 each Cost of goods available for sale in 2009 1,100 units 8,400 $12,400