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A manufacturing company, XYZ Corp, produces widgets. Calculate the cost of goods sold (COGS) for the quarter ending March, considering the following information: Beginning Inventory
A manufacturing company, XYZ Corp, produces widgets. Calculate the cost of goods sold (COGS) for the quarter ending March, considering the following information:
- Beginning Inventory on January 1st: 1,000 units at $10 each
- Purchases during January: 2,000 units at $12 each
- Purchases during February: 1,500 units at $14 each
- Ending Inventory on March 31st: 800 units
- Sales Revenue for the quarter: $150,000 Provide detailed calculations and explain the impact of inventory valuation methods (FIFO, LIFO, and Weighted Average) on COGS.
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