Applying and Analyzing Inventory Costing Methods

At the begining of the current period , Chen carried 1000 units if its produc with a unit cosf of $32. A summary of purchases during the current period follows.

Unit Unit Cont Cont Pewtory 52 $12.000 Purchase 1100 10.200 Panda 300 301 30200 1200 11.00 During the current period. Chen sold 2.800 180 Assume that Cher uses the first test out method. Compute both cost of pood sold for the current period and the ending investitory basice. Use wie financial statement lette template to record cont of pios yold for the period Ending invidory balance 50 Cost of goods sold $0 Use patiesions with answers, when appropriate In Batam encah Carred NH Trento Cash Anul Anet Lab Capital Capital Inold 010 Assume that Chen uses the list cut method compute both cost of good sold for the current penod and the ending invertory balance Ending inventory balance 0 * Cost of goods sold to Assume that hentes the average cost method. Corriputo both cost of good old for the current period and the maing inventory balance Ending Inventory balance 10 * Cost of poodi sold