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A company began August with 50 units of inventory that cost $35 each. Assume a perpetual inventory system. During August, the company had the following
A company began August with 50 units of inventory that cost $35 each. Assume a perpetual inventory system. During August, the company had the following transactions: (Click the icon to view the transactions.) Determine the company's cost of goods sold for August using each of the inventory costing methods indicated. (For weighted average calculations, round per unit costs to the nearest cent and all other amounts the nearest dollar.) Data Table The cost of goods sold amount for August using FIFO inventory costing is $ The cost of goods sold amount for August using LIFO inventory costing is $ The cost of goods sold amount for August using weighted average inventory costing is $ Units Unit Cost Unit Sales Price 45 $ 85 Aug. 3 Sale 8 Purchase 90 $ 54 21 Sale 85 88 30 Purchase 15 58 Print Done
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