Calculate the cost of goods sold expense if the company uses the average cost inventory valuation method. 

 

Calculate the cost of goods sold expense if the company uses the FIFO inventory valuation method.

Calculate the ending inventory amount if the company uses the LIFO inventory costing method.

Using the following information to answer the next three questions: Units Purchase Price Beginning inventory 8 $8 Purchase #1 15 $9 Purchase #2 Purchase #3 22 24 $11 12 $13 Sales 40 40