Chapter 6 Checkpoint Problem Name Sermone Company uses the periodic inventory method and had the following inventory information available for March: Total Unit Units Cost Cost Beg. Inventory, March 1 Purchases S 4,000 500 $8 March 8 750 $9 6,750 6,500 6,600 S 23,850 March 19 650 $10 March 25 600 $11 Goods Available for Sale 2,500 It is determined that on March 31, 720 units remain on hand REQUIRED Determine the Cost of Goods Sold for the month of March and the cost of the Ending Inventory on March 31, assuming that Sermone Company uses the: A. First-in, First-out Costing Method (FIFO B. Last-in, First-out Costing Method (LIFO) C. Weighted Average Costing Method First-In, First-Out Costing (FIFO) Ending Inventory Cost of Goods Sold Total Total Unit Unit Cost Cost Cost Cost Units Units Last-In, First-Out Costing (LIFO Ending Inventory Cost of Goods Sold Unit Total Unit Total Cost Cost Cost Cost Units Units Weighted Average Costing Ending Inventory Cost of Goods Sold Unit Total Unit Total Units Cost Cost Units Cost Cost