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7) Data for Houston Electronics' Astro condensers. Calculate the value for Cost of goods sold and Ending inventory according FIFO, LIFO and Average Cost methods
7) Data for Houston Electronics' Astro condensers. Calculate the value for Cost of goods sold and Ending inventory according FIFO, LIFO and Average Cost methods HOUSTON ELECTRONICS Astro Condensers Units Total Cost Date Explanation Unit Cost Jan $10 Beginning inventory Purchase 100 $1,000 2,200 3,600 5,200 Apr. 15 200 11 Purchase Aug. 24 300 12 Purchase Nov 27 400 13 1,000 Total units available for sale $12,000 Units in ending inventory 450 Units sold 550 (a) Explain which method out of the above three would have the lowest COGS and Ending inventory
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