Question
Calculate Cost of Goods Sold and Ending Inventory using the following methods:
Calculate Cost of Goods Sold and Ending Inventory using the following methods:
FIFO Perpetual
LIFO Perpetual
Weighted Average Perpetual
FIFO Periodic
LIFO Periodic
Weighted Average Periodic
Inventory
Date Activity Units Unit Cost Balance
1-Mar Beginning Balance 250 $14 $3,500
3-Mar Sale (200) - - 0
10-Mar Purchase 200 15 3,000
12-Mar Sale (100) - - 0
15-Mar Purchase 300 16 4,800
21-Mar Purchase 250 20 5,000
23-Mar Sale (100) - - 0
27-Mar Purchase 150 22 3,300
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To calculate the Cost of Goods Sold COGS and Ending Inventory using different methods well go through each of the provided methods and calculate the values based on the given inventory activity Lets s...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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