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6) During 2021, a company sells 400 units of inventory for $85 each. The company has the following inventory purchase transactions for 2021: Date Transaction
6) During 2021, a company sells 400 units of inventory for $85 each. The company has the following inventory purchase transactions for 2021: Date Transaction Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase Number of Units Unit Cost Total Cost 60 S70 S4.200 1801 721 12.960 1901 7 51 14.250 430 $31.410 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO Calculate ending inventory and cost of goods sold for 2021 assuming the company uses LIFO Calculate ending inventory and cost of goods sold for 2021 assuming the company uses Average Cost
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