A company's inventory records indicate the following data for the month of July: July 1 beginning 380 units at $15 each July 5 purchased 270
A company's inventory records indicate the following data for the month of July:
| July 1 | beginning | 380 units at $15 each |
| July 5 | purchased | 270 units at $17 each |
| July 10 | sold | 400 units at $50 each |
| July 20 | purchased | 300 units at $22 each |
| July 25 | sold | 400 units at $50 each |
If the company uses the perpetual inventory system, what would be the cost of its ending inventory and the cost of goods sold for July based on FIFO, LIFO and Weighted Average methods?
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Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara A. Trenholm, Valerie A. Kinnear, Joan E. Barlow
6th Canadian Edition
1118557328, 978-1118557327
