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ABC Company reported the following information related to inventory and sales. Units Unit Cost Beginning inventory 1,000 $20 Purchase No. 1 7,000 $22 Purchase No.
ABC Company reported the following information related to inventory and sales. Units Unit Cost Beginning inventory 1,000 $20 Purchase No. 1 7,000 $22 Purchase No. 2 2,000 $23 Sales -8,000 units at $35 per unit. Compute the following $$ amounts under each of the 3 methods (FIFO, LIFO, Average): sales revenue COGS expense ending inventory asset value on the balance sheet
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