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At the beginning of the current period, Target carried 200 units of product with a unit cost of 5 per unit. The following is a
At the beginning of the current period, Target carried 200 units of product with a unit cost of 5 per unit. The following is a summary of purchase per month:
On March 8th Target bought 170 units @ 6.00
On March 13th Target bought 190 units @ 7.00
On March 25th Target bought 150 units @ 8.00
During the month, 480 units were sold for 11.00 per unit. Assume periodic inventory is used.
- What is ending inventory under FIFO
- What is cost of goods sold under FIFO
- What is cost of goods sold under LIFO
- What is ending inventory under LIFO
- What is cost of goods sold under weighted average
- What is ending inventory under weighted average
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