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1) The information below pertains to Krush Co. inventory. Date # of Units Price per Unit April 1 500 $ 2.75 April 3 Sold 200
1) The information below pertains to Krush Co. inventory. | ||||||
Date | # of Units | Price per Unit | ||||
April 1 | 500 | $ 2.75 | ||||
April 3 | Sold | 200 | $ 3.75 | |||
April 10 | Purchased | 300 | $ 2.80 | |||
April 12 | Sold | 500 | $ 3.80 | |||
April 14 | Purchased | 400 | $ 2.95 | |||
April 20 | Purchased | 100 | $ 3.00 | |||
April 26 | Sold | 300 | $ 4.10 | |||
Determine the value of Krush's ending inventory and cost of goods sold under the following cost flow assumptions: | ||||||
a) | FIFO - Periodic | |||||
b) | LIFO - Perpetual | |||||
c) | Perpetual Average Cost |
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