10A.Wise Books has the following transactions in August related to merchandise inventory.

Aug. 1 Beginning merchandise inventory, 8 books @ $18 each

Aug. 3 Sold 2 books @ $22 each

Aug. 12 Purchased 7 books @ $20 each

Aug. 15 Sold 7 books @ $22 each

Aug. 20 Purchased 3 books @ $23 each

Aug. 28 Sold 4 books @ $28 each

a., b., and c. Determine the cost of goods sold and ending merchandise inventory using the (a) FIFO inventory costing method, (b) LIFO inventory costing method, and (c) weighted-average inventory costing method assuming Wise Books uses the periodic inventory system. (Round weighted average cost per unit to the nearest cent and all other amounts to the nearest dollar.)

FIFO
Plus:
Less:
Cost of goods sold

b.

LIFO

c.

Weighted-Average

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