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$4 7) Following are data of inventory pertaining to Gad Corp. Date Units purchased Units sold Cost per unit 7/1 200 $2 7/5 700 $3
$4 7) Following are data of inventory pertaining to Gad Corp. Date Units purchased Units sold Cost per unit 7/1 200 $2 7/5 700 $3 7/10 800 7/15 400 7/20 450 7/25 700 $5 2,000 1,250 Figure out cost of goods sold and ending inventory, using FIFO, LIFO and weighted average cost (under periodic system). 6 point) EXTRA CREDIT: Do the same for LIFO and moving average cost (perpetual inventory system). 44 8C points) Costing System End Inv. COGS FIFO LIFO (periodic) WEIGHTED AVE. LIFO perpetual) MOVING AVE
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