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Bramble Corp. uses a periodic inventory system. Its records show the following for the month of May, in which 107 units were sold. Date Explanation
Bramble Corp. uses a periodic inventory system. Its records show the following for the month of May, in which 107 units were sold. Date Explanation Unit Cost Units Total Cost May 1 50 $15 15 Inventory Purchases Purchases 41 18 $750 738 1,102 $2,590 24 58 19 Totals 149 Compute the ending inventory at May 31 and cost of goods sold using the FIFO, LIFO, and average-cost methods. (Round per unit cos to 3 decimal places, e.g. 15.647 and final answers to 0 decimal places, e.g. 5,125.) FIFO LIFO Average-cost Ending inventory at May 31 798 $ 630 $ Cost of goods sold $ 1792 $ 1960 $ 17.3
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