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Calculate cost of goods sold and ending inventory for Emergicares bandages orders using FIFO, LIFO and average cost. There are 35 units in ending inventory.
Calculate cost of goods sold and ending inventory for Emergicares bandages orders using FIFO, LIFO and average cost. There are 35 units in ending inventory. (Round your answers to the nearest cent.)
Date | Units purchased | Cost per unit | Total cost | ||||
January 1 | 46 | $ | 7.00 | $ | 322.00 | ||
April 1 | 41 | 6.25 | 256.25 | ||||
June 1 | 56 | 6.00 | 336.00 | ||||
September 1 | 51 | 6.50 | 331.50 | ||||
Total | 194 | $ | 1,245.75 | ||||
|
Cost of goods sold | Ending inventory | |
FIFO | $ | $ |
LIFO | $ | $ |
Average cost | $ | $ |
|
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