Question
You are provided with the following information for Ister Ltd. for the month ended January 31, 2017. Ister uses a periodic method for inventory.
You are provided with the following information for Ister Ltd. for the month ended January 31, 2017. Ister uses a periodic method for inventory. Date Description October 3 Beginning inventory October 6 Purchase October 11 Sale October 15 Purchase October 22 Sale October 27 Purchase October 29 Sale Calculate (a) ending inventory, (b) cost of goods sold under each of the following methods. a. FIFO. b. LIFO c. Weighted average cost. Units Unit Cost / Selling Price 150 48 250 52 200 70 150 54 150 80 200 56 250 80
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