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Air Force Surplus began March 2018 with 70 stoves that cost $10 each. During the month, the company made the following purchases at cost: (Click
Air Force Surplus began March 2018 with 70 stoves that cost $10 each. During the month, the company made the following purchases at cost: (Click the icon to view the purchases.) The company sold 238 stoves, and at March 31, the ending inventory consisted of 62 stoves. The sales price of each stove was $48. Read the requirements. Requirement 1. Determine the cost of goods sold and ending inventory amounts for March under the average-cost, FIFO, and LIFO costing methods. Round the average cost per unit to two decimal places, and round all other amounts to the nearest do Number of units Average cost Cost of goods sold Ending inventory Data Table - X March 6 $ 80 stoves @ 100 stoves @ 50 stoves @ $15 = $24 = $28 = 1,200 2,400 1,400 Print Done
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