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21. In February 2016, Accent Toys, Ltd. made its first inventory purchase of the year by buying 10,000 units of a puppet at a cost
21. In February 2016, Accent Toys, Ltd. made its first inventory purchase of the year by buying 10,000 units of a puppet at a cost of $10/unit. In October, Accent bought an additional 5,000 units for $11 per unit. During 2016, Accent sold 12,000 units at $15 each. Using the FIFO method of inventory costing, what is Accent's cost of sales for 2016? a. $120,000 b. $122,000 C. $124,000 d. $125,000 22. Using the same information as in Question 21, what is Accent's cost of sales for 2016 using the weighted average method of inventory costing? a. $120,000 b. $122,000 C. $124,000 d. $125,000 23. Using the same information as in Question 21, what is Accent's cost of sales for 2016 using the LIFO method of inventory costing? a. $120,000 b. $122,000 C. $124,000 d. $125,000
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