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1) Hinsdale Company, which uses the periodic inventory system, has the following records for 2016: Units Unit Cost Beginning inventory Purchases: 100 $168 February 8
1) Hinsdale Company, which uses the periodic inventory system, has the following records for 2016: Units Unit Cost Beginning inventory Purchases: 100 $168 February 8 June 15 40 176 62 170 August 22 35 174 November 29 13 180 TOTAL 250 units $42,810 Ending inventory at December 31 is 108 units. Compute the cost of the ending inventory and the cost of goods sold using the following methods: a. FIFO b. Weighted-average c. LIFO
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