Chapter $6$ Homework Questions

Below are the following inventory transactions for Ahmed Hardware:

$\backslash$table$[[,,$Units,Unit Cost$],[Jan1,$Inventory,$400,2\mathrm{.}50],[$Mar $28,$Purchase,$300,2\mathrm{.}65],[$May $15,$Purchase,$300,2\mathrm{.}75],[$July $27,$Purchase,$200,2\mathrm{.}80],[$Sep $30,$Purchase,$400,3\mathrm{.}00],[Dec15,$Purchase,$200,3\mathrm{.}20]]$

During the year, $1,500$ units. were sold at $$6$ each. The company uses the periodic inventory system. Label both SEI & SCOGS.

Calculate the value of Ending Inventory and Cost of Goods Sold under each of the following:

A$.$ Average Cost

B$.$ FIFO

C$.$ LIFO