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Beginning inventory, purchases and sales data for T-shirts are as hows April 3 Inventory. 24 units $10 11 Purchase 26 units $12 14 Sale
Beginning inventory, purchases and sales data for T-shirts are as hows April 3 Inventory. 24 units $10 11 Purchase 26 units $12 14 Sale 36 units 21 Purchase 18 units $15 25 Sale 20 units Assuming the business maintains a periodic inventory system, calculate the cost of goods sold and ending inventory under the following assumptions a. FIFO b. LIFO c. Average cost In your computations, round the average cost per unit to two decimal places and round your final answers to the nearest dollar Cost of goods sold Ending inventory FIFO LIFO Average Cost Previous
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