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Blossom Company uses a periodic inventory system. Its records show the following for the month of May, in which 137 units were sold. Date Explanation
Blossom Company uses a periodic inventory system. Its records show the following for the month of May, in which 137 units were sold. Date Explanation Units Unit Cost Total Cost May 1 Inventory 63 $11 $693 15 Purchases 53 14 742 24 Purchases 74 15 1,110 Totals 190 $2,545 Average-cost Compute the ending inventory at May 31 and cost of goods sold using the FIFO, LIFO, and average-cost methods. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to O decimal places, e.g. 5,125.) FIFO Ending inventory at May 31 Cost of goods sold +A 795 +A LIFO 583 1750 $ 1962 A +A $
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