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A company had the following inventory transactions during Apri: Purchases: 4/1 Beginning inventory: 2000 unitsS1.00 per unit 4/5 Purchased 3,000 units at $1.10 per unit
A company had the following inventory transactions during Apri: Purchases: 4/1 Beginning inventory: 2000 unitsS1.00 per unit 4/5 Purchased 3,000 units at $1.10 per unit 4/15 Purchased 5,000 units at $1.20 per unit 4/25 Purchased 2,000 units at S1.25 per unit Sales: 4/3 Sold 500 units 4/16 Sold 4,000 units 4/30 Sold 3,000 units Using the above information, calculate the dollar amount of Cost of Goods Sold and Ending Inventory assuming: a. The company uses a periodic inventory system and First-in, First-out b. The company uses a periodic inventory system and Last-in, First-out c. The company uses a perpetual inventory system and Last-in, First-out
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