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Alta Ski Company's inventory records contained the following information regarding its latest ski model. The company uses a periodic inventory system. Beginning inventory, January 1,
Alta Ski Company's inventory records contained the following information regarding its latest ski model. The company uses a periodic inventory system. |
Beginning inventory, January 1, 2013 | 1,400 | units | @ | $ | 60 | each |
Purchases: | ||||||
January 15 | 2,900 | units | @ | $ | 75 | each |
January 21 | 2,700 | units | @ | $ | 80 | each |
Sales: | ||||||
January 5 | 1,350 | units | @ | $ | 100 | each |
January 22 | 1,750 | units | @ | $ | 110 | each |
January 29 | 1,200 | units | @ | $ | 115 | each |
Ending inventory, January 31, 2013 | 2,700 | units | ||||
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Just put the Leter next to the answer please.
2. | Compute cost of goods sold for January and the ending inventory using both the FIFO and LIFO methods |
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