Refer to the information in E6-8B and assume the perpetual inventory system is used. Calculate the value of ending inventory and cost of goods sold using the perpetual method and

(a) first-in, first-out,

(b) last-in, first-out, 

(c) weighted-average cost method. Round the cost per unit to 3 decimal places and your final answers to the nearest dollar.

Exercise  E6-8B

The following data are for the Lite Corporation, which sells just one product:

Calculate the value of ending inventory and cost of goods sold using the periodic method.

Transcribed Image Text:

Beginning inventory, January 1 Purchases February 11 May 18. October 23 Sales March 1..... July 1 Units Unit Cost 200 $12 500 13 400 15 100 17 350 440