Arrow Company is a retailer that uses the periodic inventory system. On August 1, it had 80
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Arrow Company is a retailer that uses the periodic inventory system. On August 1, it had 80 units of product A at a total cost of \(\$ 1,600\). On August 5, Arrow purchased 100 units of A for \(\$ 2,116\). On August 8, it purchased 200 units of A for \(\$ 4,416\). On August 11 , it sold 170 units of A for \(\$ 4,800\). Calculate the August cost of goods sold and the ending inventory at August 31 using
(a) first-in, first-out,
(b) last-in, first-out,
(c) the weighted-average cost methods.
Round your final answers to the nearest dollar.
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