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2. A company made the following merchandise purchases and sales during the current month: July 1 purchased 500 units at $15 each July 5 purchased
2. A company made the following merchandise purchases and sales during the current month:
July 1 purchased 500 units at $15 each
July 5 purchased 300 units at $20 each
July 14 purchased 300 units at $25 each
July 20 purchased 250 units at $30 each
July 30 sold 575 units at $80 each
There was no beginning inventory. What is the Cost of Goods Sold under FIFO? What is the Cost of Goods Sold under LIFO? What is the Cost of Goods Sold under Weighted Average?
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