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Below is the purchase and sale history of Product XYZ: DATE TRANSACTION # OF UNITS $/UNIT 01-Feb-21 Opening Bal 100 $20 03-Feb-21 Purchase 30 $25
Below is the purchase and sale history of Product XYZ: DATE TRANSACTION # OF UNITS $/UNIT 01-Feb-21 Opening Bal 100 $20 03-Feb-21 Purchase 30 $25 05-Feb-21 Purchase 20 $24 09-Feb-21 Sale 110 ??? 15-Feb-21 Purchase 10 $26 a) FIFO b) Weighted Average QUESTION #2 - Merchandise Costing Determine the costs of goods sold for the month and the ending inventory balance for the period
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