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Brugge Company uses a periodic inventory system. For May, when the company sold 400. units, the following information is available Units Unit cost $ May

Brugge Company uses a periodic inventory system. For May, when the company sold 400.units, the following information is available

Units

Unit cost $

May 1 inventory

350

9

May 16 purchase

390

11

May 28 purchase

460

12

1 200

Compute the May 31 inventory and the May cost of goods sold using:

  1. the average-cost method
  2. FIFO method

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