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(27 points, 9 each) Using periodic inventory, beginning inventory and purchases are shown below: Units Price Jan 1. 1,100 $7.30 $8,030 Feb 7. 1,450 $7.60
(27 points, 9 each) Using periodic inventory, beginning inventory and purchases are shown below: Units Price Jan 1. 1,100 $7.30 $8,030 Feb 7. 1,450 $7.60 Beginning inventory Purchase Purchase Purchase Total: July 10. Nov 25. 1,600 1,000 5,150 $8.20 $9.00 $11,020 $13,120 $9,000 $41,170 At December 31 the ending inventory consisted of 1,500 units. a. Find cost of goods sold based on the average-cost method: $ b. Find cost of goods sold for the current year based on the LIFO method: $ c. Find ending inventory based on the FIFO method: $ Clint Can
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