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Abiel Company, using the periodic inventory system, began the year with 240 units of product B in inventory with a unit cost of $30. The
Abiel Company, using the periodic inventory system, began the year with 240 units of product B in inventory with a unit cost of $30. The following additional purchases of the product were made: (Click the icon to view the purchases.) At end of year, Abiel Company had 540 units of its product unsold. Calculate cost of ending inventory as well as cost of goods sold by the (a) FIFQ. (b) LIFQ, and (c) weighted-average methods. (Round the weighted average to the nearest cent.) (Round the weighted average cost per unit to the nearest cent, X.XX, and all other amounts to the nearest whole dollar.) (a) FIFO (b) LIFO (c) Weighted Average Cost of goods available for sale Data Table Less: Ending inventory Cost of goods sold Apr. 1 330 units @ $ 45 each 54 each July 5 Aug. 15 Nov. 20 410 units @ 530 units @ 63 each 180 units @ 76 each Print Done Enter any number in the edit fields and then continue to the next
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