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1. Given the following information for Goode Company: May 1 Beginning inventory 18 units @ $4 per unit May 7 Purchase 12 units @ $5

1. Given the following information for Goode Company:

May 1

Beginning inventory

18 units @ $4 per unit

May 7

Purchase

12 units @ $5 per unit

May 10

Sale

14 units

May 17

Purchase

10 units @ $6 per unit

May 19

Sale

4 units

Required: Answer the following questions for Goode Company:

a.

If FIFO is in use, what is the total ending inventory in dollars?

b.

If perpetual LIFO is in use, what is the cost of goods sold for the month?

c.

If weighted average is in use, what is the ending inventory?

Please Assist.

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