Best Buy Co., Inc. (NYSE: BBY), Amazon.com, Inc., (NASDAQ: AMZN 2 ), and Target Corporation (NYSE: TGT ) each use a different inventory costing method. Best Buy uses weighted-average cost, Amazon uses FIFO, and Target uses LIFO. As you will see from the hypothetical example below, the use of a different inventory costing method will lead to differences in income statements and balance sheets. Best Buy, Amazon and Target sell a popular T-shirt for $20. Let's assume that all three companies have the same sale and inventory purchase pattern for the same period. Beginning inventory: 20,000 @ $4.00 Purchases: 30,000 @ $5.00 Ending inventory: 10,000

How many t shirts where sold?

What is the cost of goods sold, gross profit and cost of ending inventory for Best buy using the weighted-average inventory method and Amazon using the fifo inventory costibg method as well as targets using the LIFO method?